Taiwan’s Wan Hai Lines has purchased one of its chartered ships after setting aside US$200 million for second-hand vessel purchases.

The carrier has bought the 1,700 TEU Box Express for $40.5 million, having chartered the ship since June.

The 2016-built Box Express and sister vessels Box Express and Box Endurance were commissioned by Greek tonnage provider Allseas Marine at CSSC Huangpu Wenchong Shipbuilding. Wan Hai has had the sister vessels on charter since the start of the year.

On 9 November Wan Hai said its chairman had authorised a budget of $200 million to acquire more second-hand ships, nearly a year after setting aside $360 million for this purpose.

Most of the earlier budget has been spent on a dozen second-hand vessels, ranging from feeders to panamaxes.

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