Wan Hai Lines secures an $89 million lease for Osaka's C-9 terminal, enhancing its Japan operations and expanding its Asia terminal network.
Taiwan's Wan Hai Lines has agreed to an $89 million lease for terminal C-9 at Osaka's Hanshin container port, strengthening its presence in Japan and expanding its Asia terminal network, reports London's S&P Global.
The carrier stated that the deal is part of a strategy to cut costs and improve efficiency by securing dedicated berths. Wan Hai already operates six regional services calling at Osaka and has launched new intra-Asia services linking Japan with Vietnam and Thailand in the past two years.
Wan Hai will lease the C-9 terminal in partnership with Mitsui Warehouse Terminal Service from Kobe-Osaka International Port Corporation. The company did not disclose the lease duration. Mitsui's former partner, Mitsubishi Logistics Corporation, sold its stake to Wan Hai.
The carrier, Taiwan's third-largest, indicated last year that it aimed to expand its network of terminals and storage facilities to secure competitive tariffs at key Asian ports.
The Osaka lease marks Wan Hai's first terminal deal since opening Haiphong International Container Terminal in northern Vietnam in 2018. Other investments include berths in Taichung and Taipei in Taiwan, Cai Mep and Da Nang in Vietnam, and Qingdao in China.
