16.4 C
Hamburg
Sunday, June 1, 2025
Home Most Visited - Newsletter MSC buying streak prolonged with PIL ship acquisition

MSC buying streak prolonged with PIL ship acquisition

MSC has continued its ship acquisition streak, purchasing a Panamax vessel from Pacific International Lines, which has been rightsizing its fleet.

The 2010-built 4,250TEU ship has been renamed MSC Langsar (ex-Kota Langsar) after being sold in mid-March but joined MSC’s fleet only in May. The purchase price was not disclosed but VesselsValue shows that MSC Langsar was valued at US$22.86 million at the time it was sold.

Container freight rates have been firming since mid-2020, resulting in growing demand for newbuildings and second-hand vessels.

VesselsValue shows that since September 2020, MSC has purchased 49 ships, ranging from feeders to post-Panamax units, including MSC Langsar.

The Swiss-Italian liner operator has four 24,000TEU ships on order at Hudong-Zhonghua Shipbuilding and Jiangnan Shipyard, on top of lease commitments to other newbuildings commissioned by lessors such as Minsheng Financial Leasing.

With 3.97 million TEU of capacity, the second-largest liner operator is closing in on sector leader Maersk Line’s 4.11 million TEU. Meanwhile, PIL has been downsizing its fleet to strengthen its balance sheet.

The Singapore High Court sanctioned PIL’s debt restructuring on 3 March 2021, after the company’s bond holders voted on 1 February to accept PIL’s proposal to convert bonds to perpetual securities.

Since 2020, PIL has sold 25 container ships (including container-carrying multi-purpose vessels), causing it to drop out of the 10 largest liner operators. Now ranked twelfth, PIL has a total capacity of 250,600TEU, comprising 50 owned ships and 30 chartered vessels.

Martina Li
Asia Correspondent





Latest Posts

The Indian Ocean Rivalry

The Indian Ocean has emerged as a strategic theater of competition between two Asian giants: India and China. India’s recent developments indicate a rapid expansion...

Statkraft advances plans for green hydrogen scheme at Hunterston

Europe’s largest generator of renewable energy has proposed the development of a green hydrogen facility at Hunterston, the former coal terminal in Ayrshire. Clydeport –...

Port of Bilbao wraps up busiest month for cruise traffic

May has marked a record month for cruise activity at the Port of Bilbao’s terminal in Getxo, with 18 cruise ship calls bringing over...

Tripoli port shutdown sparks maritime crisis in Libya

Libya’s shipping sector is teetering on the edge of collapse as fresh waves of political violence erupt in Tripoli, crippling key port operations and...

KlaipÄ—da port embarks on green hydrogen initiative

KlaipÄ—da Port launched its green hydrogen initiative, positioning itself as the first in Lithuania and the broader Baltic region to produce and supply green...
error: Content is protected !!