Added services to exploit rising rates boost transpacific capacity by 33%
To take advantage of skyrocketing freight rates, liner operators added 23 transpacific services between July ...
PACC Container Line, a South-east Asia-focused feeder operator, has quit the liner trades after its parent, Malaysian conglomerate Kuok Group, restructured its shipping business.
While the Accounting and Corporate Regulatory Authority of Singapore shows PACC Container remains registered, a spokesperson for Pacific Carriers, which represents the Kuok group’s shipping business, told The Loadstar the company decided to stop shipping containers, even after freight rates began shooting towards historical highs last year.
The spokesperson said: “In 2020, Pacific Carriers underwent a fleet renewal and consolidation ...
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