TS Lines has bought another pair of 1,730TEU ships from German tonnage provider Reederei Nord Klaus E Oldendorff.
The Taiwanese intra-Asia carrier was identified by brokers as the buyer of 2015-built Nordviolet and 2016-built Nordlily, paying US$18.9 million and US$19.6 million, respectively.
In November 2020, TS Lines had purchased two 2016-built similar-sized vessels, Nordemilia (renamed TS Laemchabang) and Nordclaire (renamed TS Haiphong) for US$16.9 million each, from the same German owner.
December 2020, TS Lines exercised options for two more 1,900TEU newbuildings at CSSC Huangpu Wenchong Shipbuilding of China, after the initial order three months earlier.
During a press conference to announce TS Lines’ 2020 performance, the company’s founding Chairman and CEO, Chen Te-sheng, stated that more ships will be acquired to reduce charter costs. A few liner operators, such as Mediterranean Shipping Company, Wan Hai Lines and Regional Container Lines, are adopting the same strategy as charter costs have doubled year-on-year due to rising demand.
TS Lines is now the 20th largest liner operator, with total capacity of 102,452TEU. Chen said that the company now owns 24 vessels, more than half of its operated fleet of 46 ships.
TS Lines is reportedly reviving an attempt to have an initial public offering on the Hong Kong Stock Exchange in H2 2021, after postponing earlier plans for a listing.