Wan Hai profit chopped by higher costs

Taiwan's Wan Hai Lines has posted lower third quarter earnings despite higher revenue.

The containership owner said net profit was TWD 462.82m ($15m), against TWD 1.28bn in 2017.

Revenue rose to TWD 17.32bn versus TWD 15.81bn, but operating costs increased more quickly to TWD 16.1bn from TWD 13.42bn.

Earlier this month, Wan Hai inked orders worth $900m for up to 28 container vessels to be built in Japan and China.