News / PACC Container Line quits liner business after parent group refocuses

PAC CEKAP

Credit Martina Li

By Martina Li in Taiwan

02/08/2021

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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Topics

Accounting and Corporate Regulatory Authority of Singapore Kuok Group Meratus Line PACC Container Line Pacific Carriers Ltd (PCL) Pasir Gudang Port Pontianak Port vesselsvalue.com

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