MISC, Malaysia’s largest shipping company, will sell its 16 owned containerships over the next six months.
MISC told newswire Bloomberg that the prices for the ships would depend on market conditions and that any ships that remain unsold will be kept in a “short reactivation mode”, including crews and maintenance, until the end of next year.
Of its 14 chartered-in vessels, MISC said that it would return them to owners early or try to sub-lease them. Some 10 of the contracts expire by the end of June 2012, the deadline that MISC has set to exit its boxline business.