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TS Lines streamline fleet

TS Lines continue to sell its ships with three more being disposed of, bringing the total to nine offloaded since February as part of a fleet streamlining process.

TS Hongkong (1,530 teu, 2006), TS Haiphong and TS Laemchabang (both 1,730 teu, 2016) have been sold as TS Lines disposes of excess vessels, having exited long-haul lanes after freight rates fell to pre-Covid levels.

TS TS Haiphong and TS Laemchabang were acquired by TS Lines for $16.9 million each in late 2020 and sold them for $23.5 million each.

TS Hongkong was acquired in December 2009 for an undisclosed price and was valued at around $13 million at the time. TS Lines sold the ship for $8.3 million.

Following the sales TS Lines has 23 ships, comprising 18 feeder vessels, three sub-panamaxes and two panamaxes.

So far, the carrier has sold only feeder vessels and has seven of these under construction, having embarked on a substantial newbuilding programme in 2020.

There are also six 2,900 teu ships and five of 7,000 teu on order, all to be delivered this year and next.

The feeder vessels are meant for China-Japan routes, the 2,900TEU shops for East Asia-Australia/New Zealand services, while the 7,000TEU ships are expected to be assigned to strings connecting East Asia with India and the Persian Gulf.

Image courtesy of shipspsotting.com

Ships Montly - January 2024

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