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
09/11
2023
International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the nine months of 2023 posting revenue from port operations of US$1.76 billion, an increase of 7% compared with the same period in 2022.
05/08
2022
Maersk Line has reported a slowdown in truck flows in/out of India’s Nhava Sheva Port/JNPT as a result of new traffic restrictions imposed by local authorities.
09/08
2021
The world’s two largest ports are experiencing unprecedented volumes of tankers, bulk carriers and containerships back up into the East China Sea as a combination of renewed Covid cases, fierce weather and strong US demand creates further supply chain havoc.