Retail in Asia

In Shops

Asian carriers trim container fleet

Several Asian carriers trimmed the number of container ships they own over last 15 months or so as they want to reduce their exposure to liner shipping, which is now in a bad shape, says Journal of Commerce quoting Alphaliner, the Paris-based consultancy organisation.

Seven major Asian operators surveyed by Alphaliner disposed of ships with capacity totalling 282,000 twenty-foot equivalent units (TEUs), representing 16 percent of their combined fleet. This includes 155,000 TEUs sold for scrapping and 127,000 TEUs sold in the second-hand market and financial engineering deals. But it will be wrong to presume only Asian carriers have slashed fleets.