SITC exits dry bulk segment after selling off its entire fleet
SITC International Holdings has completed the sell-off of its entire bulk carrier fleet. The Hong Kong-based SITC, the parent company of intra-Asia box carrier SITC Container Lines, marks its exit from the dry bulk segment as the group wants to focus on its core container shipping business.
The online valuation and shipping data provider, VesselsValue report that SITC’s last two bulk carriers, SITC Zhoushan and SITC Lushan, were sold for US$22 million each to Vietnamese dry bulk carrier operator Viet Thuan Transport in late April and are pending delivery.
In February and March, SITC Taishan and SITC Hengshan, were sold for undisclosed prices. Dongguan Haichang Shipping has been identified as the buyer of SITC Hengshan; the same company had bought another SITC bulker, SITC Huangshan, in November 2021.
SITC Container Lines is now the 16th largest liner operator, with a total capacity of 142,106 TEU.
Source: Container News
Related News
13/06
2023
Vietnam is set to have 30 airports by 2030, including 14 serving international flights and 16 serving domestic flights.
10/09
2021
CMA CGM Group has decided to put any further increases in spot freight rates on hold for all services operated under its brands, CMA CGM, CNC, Containerships, Mercosul, ANL and APL.
09/11
2022
More than two years after the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020, Vietnam’s exports to the EU have increased considerably. To promote sustainable exports to this large but highly demanding consumer market, Vietnamese businesses should be more proactive in grasping opportunities presented by the trade deal.