Credit Martina Li
PACC Container Line, a feeder operator focused on Southeast Asia, left the liner business after its parent company, Malaysian conglomerate Kuok Group, restructured its shipping business.
As Singapore’s Business Accounting and Regulatory Authority shows the PACC container remains registered, a spokesperson for Pacific Carriers, which represents the Kuok Group’s shipping business, said The charging star the company decided to stop shipping containers even after freight rates started to hit all-time highs last year.
The spokesperson said: “In 2020, Pacific Carriers proceeded to renew its fleet and consolidate its dry bulk, general cargo, project and package businesses as part of the broader strategic review. of the group.
“We have discontinued food services and moved out of the container shipping business to focus on our dry bulk, general cargo, oil and gas business portfolio. “
Data from VesselsValue shows that PACC Container has sold its latest container ship, the 526 teu PAC Cergas, at the Meratus line in Indonesia in April.
PACC was established in 1983 to provide regional general cargo and container services for PCL in South East Asia and its fleet peaked between 2001 and 2003, when it took delivery of four new 1,100 teu vessels, which were mainly chartered to other intra-Asian containers. operators, then sold. PACC has deployed three vessels to transport containers from the port of Pasir Gudang in Malaysia and the port of Pontianak in Indonesia for transhipping from Singapore to Europe, the United States and Australasia.
The founder of the Kuok Group, Robert Kuok, is the richest man in Malaysia, with a net worth of around $ 18 billion.