Wan Hai rejects merger proposal after steep decline in profits
Wan Hai – the world's 17th largest container carrier – has been brought to its knees by the dire market for container shipping, according to Lloyd's List, as profits shrunk significantly in the third quarter this year. The carrier has rejected a merger proposal.
Taiwan is suffering from the weak market conditions for container carriers, as the country is home to three of the world's largest container carriers: Evergreen, Yang Ming, and Wan Hai.
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