TS Lines Seeks to Restart Shipbuilding Plan

T.S. Lines, Taiwan's fourth largest container carrier, is seeking to restart its dormant shipbuilding plan in 2015, the company announced Monday.

In 2011, the company suspended a plan to order four 1,800 teu and four 4,700 teu box ships due to the  belief that new building prices would continue to decrease, IHS Maritime 360 reported. But due to slumping oil prices, economic recovery in Asia and the U.S., and the fear that the growing market will generate more ship building, the company is considering reinstating the plan, according to TS Chen, president of TS Lines.

The carrier currently operates a 40-vessel fleet and is expected to add five new ships in the first quarter of 2015. TS Lines made a profit of $31 million last year, and is expected to generate 70% of that total in the first quarter of 2015.