Malaysia's MISC disposes of assets, speeds exit from container services
2012 04 20
- Details
MALAYSIAN carrier MSC Berhad is making its final moves in withdrawing from the container trade, ending all domestic East Malaysia services after its dramatic decline.
The removal of two 836-TEU containerships the Bunga Mas Sembilan and Bunga Mas Sepuluh will end services from Port Kelang to East Malaysia.
The remaining fleet of nine vessels are as yet unsold with two of its largest capacity 7,943 TEU built in 2006 and 2007 respectively for a reported sale of US$48 million. It has sold two small vessels of 699 TEU as converted escorts to the Malaysian Navy.
The niche operator failed to secure buyers for three containerships built in 1990-1991 in the 1,290-TEU range at a discounted price of US$3.7 million from a initial reserve of $5.5 million in 2010.
The withdrawal from container services will lead to one-time costs of $475 million, the company said when it announced its exit last quarter 2011.
Source Shipping Gazette - Daily Shipping News
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