| Kawasaki Kisen Kaisha (‘K’ Line) has sold six container ships as it prepares to take delivery of 10 14,000 teu ships. Japan’s third-biggest shipping company told IHS Maritime that since the end of 2014 to March 2015, it has sold Victoria Bridge, Valencia Bridge, Virginia Bridge, Verrazano Bridge, Vincent Thomas Bridge, and Vancouver Bridge. Each ship is of 4,738-teu and built in 2004–05. IHS Maritime’s Sea-web.com data show Victoria Bridge, Valencia Bridge, and Virginia Bridge were sold for USD15.6 million each to Alexander Saverys-owned Delphis and have been renamed to Buffalo Hunter, Bear Hunter, and Bull Hunter. The data also show Verrazano Bridge, Vancouver Bridge, and Vincent Thomas Bridge were sold to South Korean operator Sinokor Merchant Marine for USD15 million each and were renamed to Sino Bridge, Beijing Bridge, and Grace Bridge. A ‘K’ Line representative told IHS Maritime, “We will take delivery of five 14,000 teu vessels from Imabari Shipbuilding within this year and also another five 14,000 teu ships in 2018.” ‘K’ Line said in its medium-term management plan that it plans to reduce its fleet of container ships from 70 to 61 by the end of fiscal year 2019. However, its teu capacity will increase with the sale and scrapping of the smaller ships, and the introduction of the 10 14,000 teu ships. Eizo Murakami, who took over as ‘K’ Line’s new CEO and president on 1 April, said the first half of the plan will focus on further strengthening the company’s financial position based on improved earning power while the last half will be dedicated to growth into strategically expanding businesses based on financial soundness. |