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
16/10
2021
The Alliance, comprising Hapag-Lloyd, Yang Ming, Ocean Network Express (ONE) and HMM, has announced several changes in its Atlantic Loop (AL) services.
02/02
2022
Finding out how much it costs to manufacture a product and deliver it to the customer helps a business fix a price for the product. It also takes into account a reasonable profit margin over the total costs.
17/05
2023
HMM is reportedly attempting to buy back the liquefied natural gas (LNG) shipping unit that South Korea's flagship carrier divested back in 2014 when it began facing financial troubles.