Taiwanese intra-Asia carrier TS Lines has sold three containerships as it refocuses resources on its core intra-Asia services.<\/p>\n
Last week, Greek broker Intermodal reported that TS Lines had sold 2019-built 1,096 teu TS Shanghai and TS Yokohama and the 2006-built 962 teu TS Moji to a European buyer for $40m.<\/p>\n
A source at TS Lines confirmed the sale and that it would not be chartering the ships back.<\/p>\n
The buyer has been identified as German tonnage provider HR Schiffahrt, and brokers said there was talk that TS Lines had also put the 2007-built 2,553 teu TS Manila up for sale.<\/p>\n
The Loadstar has reported that TS Lines would be axing its Asia-Europe and Asia-US east coast services, jointly operated with China United Lines and SeaLead Shipping, respectively.<\/p>\n
Today, the TS Lines source revealed it had also permanently called time on its North West 1 service that connected China with Vancouver, Canada, which began in October 2021 and ceased in November last year.<\/p>\n
The source said: \u201cAs we\u2019re taking delivery of a dozen newbuildings this year and considering that asset values have been falling, we decided to sell a few ships to adjust our fleet size.\u201d<\/p>\n
The source however, declined to confirm the sale of TS Manila, bought for $6m in August 2020 and valued at around $14m.<\/p>\n
Like many other regional carriers, TS Lines entered long-haul tradelanes when freight rates hit historical highs, only to depart these routes after market conditions normalised. Chairman Chen Te-sheng recently said the next two years were expected to be challenging, although TS Lines still hoped to complete its Hong Kong Stock Exchange listing this year.<\/p>\n
TS Lines has 1,100, 2,900 and 7,000 teu ships being delivered from Fujian Mawei Shipbuilding and Shanghai Waigaoqiao Shipbuilding this year. The 1,100 teu vessels are designed for China-Japan routes; the 2,900s are intended for East Asia-Australia\/New Zealand services, while the 7,000 teu ships are expected to be assigned to services connecting East Asia with India and the Persian Gulf.<\/p>\n
A broker suggested TS Lines might be \u201ccashing out of older ships\u201d as asset values plummeted in tandem with weaker market conditions. TS Moji had a valuation of $9m when TS Lines bought the ship in May 2021, but was reportedly sold to HR Schiffahrt for $7m.<\/p>\n
TS Shanghai and TS Yokohama were ordered from Kyokuyo for $17m each in 2018, their value peaked at around $51m each in October 2021, but had plummeted to $16.5m at the time of the recent sale.<\/p>\n
Source: theloadstar<\/p>\n
Taiwan, M. L. in. (2023, February 13). TS lines closes Vancouver Service and repurposes fleet for intra-asia<\/i>. The Loadstar. Retrieved February 14, 2023, from https:\/\/theloadstar.com\/ts-lines-closes-vancouver-service-and-repurposes-fleet-for-intra-asia\/<\/p>\n Taiwanese intra-Asia carrier TS Lines has sold three containerships as it refocuses resources on its core intra-Asia services. Last week, Greek broker Intermodal reported that TS Lines had sold 2019-built 1,096 teu TS Shanghai and TS Yokohama and the 2006-built 962 teu TS Moji to a European buyer for $40m. A source at TS Lines …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[78],"tags":[85,84],"class_list":["post-2520","post","type-post","status-publish","format-standard","hentry","category-news","tag-container-lines","tag-maritime"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/comments?post=2520"}],"version-history":[{"count":2,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2520\/revisions"}],"predecessor-version":[{"id":2559,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2520\/revisions\/2559"}],"wp:attachment":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/media?parent=2520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/categories?post=2520"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/tags?post=2520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}