Formosa Plastics continues fleet clearout

Formosa Plastics continues fleet clearout

Taiwanese conglomerate Formosa Plastics is continuing efforts to downsize its fleet, having listed two more tankers for sale.

According to shipbroking sources, the company is now inviting offers for 2009 South Korean-built 74,900 dwt LR1 tankers FPMC P Fortune and FPMC P Eagle.

In January, Formosa Plastics sold its 46,000 dwt product tanker Formosa Sixteen to Greek owner Monte Nero Maritime, with the vessel since renamed Ocean III.

VesselsValue data shows Formosa Plastics sold a total of 11 vessels made up of six feeder containerships, three LR1 tankers and two MR2 tankers in the past 12 months.

The Formosa Plastics fleet currently stands at 55 vessels, with another six tanker newbuildings under construction at CSSC.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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