Global News

Declaration from WAN HAI LINES
With reference to Seatrade Asia Online's report on Dec,13'06, that French liner giant, CMA-CGM, is in discussion with a Taiwanese container line over a possible takeover bid, which implies Wan Hai Lines Ltd. being its target, we would like to point out that Seatrade Asia Online has made a wrong inference regarding CMA-CGM takeover bid target.

Wan Hai Lines have not engaged in any sort of discussion with the French liner company relevant to the takeover or M&A issues, although there has been cooperation on joint services in the past. If it is true that CMA-CGM officials are in Taipei this week to thrash out the deal, its counterparty may be another Taiwanese shipping line and definitely not Wan Hai Lines.