Brokers predict no a busy Christmas for Japanese shipping major Kawasaki Kisen Kaisha (K Line).
The active outfit is offloading ships at a rapid speed during the last month of the year. Last week, K Line sold a nine-year-old aframax, the 115,000 dwt Singapore River, for $23.3m. A new sale is in the pipeline this week with K Line’s Singapore subsidiary just committing the ten-year-old supramax, Luisia Colossus, for $15m.
K Line Singapore’s selling spree is expected to continue as a third ship is now up grabs, with a similar aged supramax, Ocean Colossus, being circulated for sale. This ship is now moving through the South China Sea after a trip to the Philippines. K Line is inviting owners’ representatives to come and inspect the ship in sunny Haikou around Christmas eve where the ship will discharge around 22 or 23 December.
Next year K Line, one of the world’s largest shipping lines, turns 100 years old.