ContainersFinance and InsuranceGreater China

CULines readies Hong Kong IPO

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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