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Intra-Asian carrier Wan Hai returns to profit

Intra-Asian carrier Wan Hai returns to profit
Wan Hai Lines returned to a healthy net profit in the first quarter ended 31 March 2013 as against a loss recorded a year earlier.

The Taipei-listed container line registered a quarterly profit of NT$124.89m ($4.17m), reversing from a deficit of NT$393.06m in the same period of 2012.

The carrier, largely an intra-Asia player, has a focus on the Asian market and shorter intra-regional trades, helping it to maintain profitability in the first quarter.

Moreover, freight rates for intra-Asia showed less volatility than long-haul routes such as the Asia-Europe and transpacific routes.

The other two Taiwanese lines, Evergreen Marine and Yang Ming Marine Transport Corporation, which rely more on long-haul trades, both recorded a loss in the first quarter.

Evergreen reported a loss of NT$1.95bn in the first three months and Yang Ming lost NT$2.68bn in the same period.

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