Small and mid-sized intra-Asia carriers that ordered large newbuildings to enter long-haul trades during the Covid-fuelled boom have morphed into tonnage providers after their dreams were dashed.
They are undergoing a reality check after freight rates collapsed to seven-year lows.
Taiwan’s TS Lines and Thailand’s Regional Container Lines have each recently chartered two 7,000 teu newbuildings to Singapore’s Pacific International Lines. The charter terms are confidential.
When four 7,000 teu ships were ordered …
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