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Wan Hai benefits from intra-Asia focus

Wan Hai benefits from intra-Asia focus
Taipei: Wan Hai has been benefitting from a decisive change of focus. It attributed its $42m  third quarter net profit to the switch to focus on the intra-Asia trade moving away from the mainline Asia-Europe trade.

For the first half, the Taiwanese line restored its profitability by earning $26.4m in net profit, as costs were lowered partly due  to
bunker prices an average of $100 per tonne lower than in the first quarter.

Wan Hai assistant general manager Gao Guolong was quoted as saying: "We are expecting full-year volumes of 3m teus this year (down from 3.4m teus in 2011), but we are able to pick high-margin cargoes due to our smaller capacity." Gao expected intra-Asia to keep growing in the future, although at a slower pace.