TAIWAN's intra-Asia feeder line TS Lines plans to launch an initial public offering in Hong Kong, where the carrier is based.
Chief executive TS Chen said that Hong Kong was chosen as the listing location owing to its status as a maritime and financial centre and its low corporate tax rate, reported Colchester's Seatrade Maritime News.
Mr Chen has earlier been reported as expressing concern about increasing charter rates, suggesting a change in business strategy to focus more on owned vessels as the line expands to the Middle East and other intra-Asia routes, while continuing its feeder role for the mainline operators.
The carrier has taken delivery of six 1,800-TEU ships that were ordered from CSBC Corp in 2015 and 2016. It also ordered two Japanese-built 1,096-TEU vessels at the end of last year.
TS Lines is the 20th largest container line with a fleet capacity of 78,110 TEU, according to data compiled by Alphaliner.
Chief executive TS Chen said that Hong Kong was chosen as the listing location owing to its status as a maritime and financial centre and its low corporate tax rate, reported Colchester's Seatrade Maritime News.
Mr Chen has earlier been reported as expressing concern about increasing charter rates, suggesting a change in business strategy to focus more on owned vessels as the line expands to the Middle East and other intra-Asia routes, while continuing its feeder role for the mainline operators.
The carrier has taken delivery of six 1,800-TEU ships that were ordered from CSBC Corp in 2015 and 2016. It also ordered two Japanese-built 1,096-TEU vessels at the end of last year.
TS Lines is the 20th largest container line with a fleet capacity of 78,110 TEU, according to data compiled by Alphaliner.