News / Bulker owner Franbo triples profits after move into carrying containers

Franbo Logic Photo: Ca Chep Ship Chandler

Taiwanese bulk carrier owner Franbo Lines has confirmed that it has benefited from container shipping rate inflation after carrying boxes on its vessels.

With freight rates for container ships and bulk carriers hitting multi-year highs, Franbo’s net profit last year tripled year on year, to $13.5m.

Franbo Lines has 18 vessels, including five multipurpose ships which can carry 160 40ft containers on deck and which had been chartered to freight forwarders.

These five vessels carried containers from Asia to Europe and the US, and ...