As of June 30, 2022, TS Lines’ container shipping network covered a total of 22 countries and regions, 56 major ports and 45 services globally, having an extensive network in the Asia region market. The IPO would fund its continued expansion in the region, including the Greater Bay Area of which Hong Kong is part of.
“We believe that our high-frequency services provide our customers with greater flexibility to manage their logistics needs and stronger capability to achieve faster inventory turnover. We have established a long-term presence in the Greater Bay Area, which we view as instrumental to our future development in the Asia region market and in which we also see significant opportunities for sustained profitable growth in the future,” TS Lines said.
TS Lines is continuing to expand its fleet capacity to support growth plans in the Asia region market and selected long-haul services. The company had ordered 22 vessels including 16 vessels ranging from 1,100 to 2,900 teu and six 7,000 teu vessels, which are expected to be delivered between November 2022 and November 2024.
As of 30 June the company had a total of 52 vessels, consisting of 26 owned vessels and 26 chartered vessels, with a total capacity of 107,907 teu. The majority of its fleet consists of small sized vessels each with capacity of less than 2,000 teu, which are able to access most ports in the Asia region and are more flexible in deployment than larger vessels.
In August this year, TS Lines has placed an order at Fujian Mawei Shipbuilding for the construction of four boxships. The four 1,100 teu containerships, designed by Shanghai Ship Design and Research Institute (SDARI), are the latest version containership for China-Japan shipping routes.
The vessels will have 147.9 metres length and 23.25 metres width, having a carrying capacity of 1,140 twenty-foot containers. TS Lines has been expanding fleet capacity since last year, and the company is expected to have a self-owned fleet of over 40 vessels by 2024.
