Wan Hai reduced EBIT losses by 37% QoQ in 2Q 2023. Like ZIM, Wan Hai also suffer
from over-exposure on the weak Transpacific and Intra-Asia markets but it has
been shielded from the rapid decline on the Oceania trades where Wan Hai do not
have a presence.
Wan Hai’s failure to invest in SOx scrubbers has also impacted its operating
margins, with all of its ships using the more expensive LSFO.