Wan Hai has obtained a TW$11 billion (US$340 million) loan from a syndicate of four Taiwanese banks to upgrade Terminal 5 in Kaohsiung Port.
Mega Bank is the lead lender with the syndicate comprising Land Bank of Taiwan, Bank of Taiwan and First Commercial Bank.
Wan Hai is taking over operations of Terminal 5 from Evergreen Marine Corporation, which shifted to Terminal 7.
The Taiwanese regional carrier’s upgrades will see Piers 79, 80 and 81 in Terminal 5 equipped with electric traction vehicles and electric forklifts to create an automated and environment-friendly facility.It is expected that after the Taiwanese terminal reopens in 2026, the overall operating area will be doubled from the current one, and the future annual operating volume will reach 2 million TEUs.
Wan Hai Lines, Ltd. is a Taiwanese shipping company founded in 1965. Since then, it has become one of the largest companies in the container shipping industry, with a fleet of 142 vessels and a carrying capacity of 430,854 TEUs as of January 2023.
On the other hand Kaohsiung Port, located on the southern extremity of Kaohsiung City, spans six administrative districts. Its large hinterland and natural bay have made it Taiwan’s largest port, and also the thirteenth-largest port in the world. Up to 116 wharfs are in operation at any time, and as Taiwan’s most important shipping hub, it could be called the economic heart and symbol of Kaohsiung. Under the deft management of the Kaohsiung City Government, not only is its business flourishing, and not only has the facilities in the port been upgraded to the best available, its variety of sights has made it into a panorama of Kaohsiung’s beautiful present.
