讀後心得

Wan Hai emphasized in today's investor conference that although U.S. President Trump’s plan to revitalize the American shipbuilding industry has raised concerns about potential high tariffs on Chinese vessels, the company does not utilize ships built in China on its West Coast and East Coast routes, thus the impact is limited. Furthermore, despite a decline in global freight rates, during long-term contract negotiations on U.S. routes, customers are willing to accept prices that are 20% to 30% higher than last year, indicating that there is still confidence in transportation demand in the market. Wan Hai plans to introduce three new ships in 2025 and gradually retire older vessels, which will increase capacity by more than 310,000 TEUs over the next five years. Today's stock price fell slightly by 0.47%, closing at 84.2 yuan.

Wan Hai stated at today's press conference that the recent plan proposed by U.S. President Trump to revitalize the American shipping industry has raised market concerns about possible high tariffs affecting Chinese shipbuilding. However, Wan Hai emphasized that its West Coast and East Coast routes do not use Chinese vessels, so its impact is limited.

On the other hand, despite a slight decline in global freight rates, Wan Hai mentioned that customers are generally accepting prices that are 20 to 30 percent higher than last year during negotiations for long-term contracts on the U.S. routes, indicating a certain level of confidence in transportation demand in the market.

During the press conference, Wan Hai responded to concerns regarding two major market issues. First, the potential impact of U.S. policies on the shipping industry, particularly with Trump's possible return to politics and his strong push for domestic shipbuilding, which has raised worries among those who use vessels manufactured in China. The General Manager of Wan Hai stated that the company does not use Chinese-built ships on its West Coast and East Coast routes, and that less than 10 percent of its fleet consists of Chinese-built vessels, mainly used in the Asian region, which limits the company's exposure.

Additionally, regarding the trend of freight rates on the U.S. routes, Wan Hai mentioned that the ongoing Red Sea crisis has continued since last year, causing an imbalance in market supply and demand. Although prices have recently dipped, the overall tense situation remains unchanged. The company observed that customers on the U.S. routes are generally willing to accept prices 20 to 30 percent higher than last year during this year's long-term contract negotiations, indicating that concerns over capacity shortages still persist.

Wan Hai also announced a fleet optimization plan, expecting to have three new 13,000 TEU vessels in operation by 2025 and plans to gradually withdraw older vessels and ships under high-rent contracts. Within the next five years, the company will receive a total of 30 new vessels, increasing its total capacity by over 310,000 TEU, demonstrating the company's confidence in the medium to long-term shipping market.

Today's stock price slightly decreased by 0.47% or 0.4 yuan, closing at 84.2 yuan.

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