China United Lines (CULines), one of the fastest growing container carriers during the pandemic, is gearing up for a listing on the Hong Kong Stock Exchange.
CULines has expanded dramatically over the past year to offer speedy services on routes that have experienced supply chain dislocation with new services from China to the US, to Hamburg, the UK and India among 2021’s offerings.
Proceeds from the listing will go to expand the company’s fleet as well as to acquire warehouses and container yards.
The company stated: “We plan to further optimise the effective distribution of various vessel sizes in our fleet to further match our short-sea and deep-sea shipping route portfolio and reinforce our competitive strengths. We also plan to further optimise our fleet structure and enter into agreements with vessel chartering companies with varying terms, which, we believe, can reduce our operational risks under changing market conditions.”
Alphaliner lists CULines as the world’s 22nd largest carrier with 34 ships in its fleet.
