Global News

Wan Hai Signs Contracts for sale and lease back of four vessels
Wan Hai Lines is pleased to announce the signing of a sale and lease-back transaction for four post-panamax vessels with Mega International Commercial Bank The total amount of this transaction is three hundred million USD ($300,000,000).

The net proceeds of the transactions to Wan Hai Lines, after deducting all relevant transaction costs is two hundred and eighty-six million USD ($286,000,000).

The four vessels involved in this transaction are WH601, WH602, WH603, and WH605. These sister vessels were ordered from CSCB Corporation., Taiwan in 2004 and were delivered to WAN HAI (S) Pte in 2007. All four vessels have a nominal capacity of 6,019 TEUs.

This transaction was facilitated by the following major local and international financial institutions: Mega International Commercial Ban Co., Ltd. (Lead Manager), The Bank of Tokyo-Mitsubishi, Ltd., Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Ta Chong Bank Ltd., Citibank (Co-Arranger), Taipei Fubon Commercial Bank Co., Ltd., The Shanghai Commercial and Savings Bank, First Commercial Bank, and The Export-Import Bank of the Republic of China.

The enthusiastic participation of these financial institutions in a challenging environment for the credit markets is a key indication of the Company’s excellent reputation in the shipping industry. The proceeds from this transaction will provide more financial and operational flexibility for the Company