Taiwanese conglomerate Formosa Plastics fleet clear-out continues. Just before Easter, the outfit let go of its oldest VLCC, while this week its has put three of its oldest handysize tankers in the shop window.
The handysize segment is where the world’s sixth largest chemical producer by chemical sales has most ships, counting 17 vessels. Formosa Plastics is now seeking bids for the 50,000 dwt FPMC 20 and FPMC 21, both ten-year-old ships, while a third one year younger vessel, FPMC 22, is also for sale. The trio are being replaced with four ships that are hitting the water this year, of which two are already delivered.
Formosa Plastics also sold two similar aged ships in this segment at the end of last year.