MISC hastens exit from liner trade

MISC's last two ships in operations, the 836 teu Bunga Mas Sembilan and Bunga Mas Sepuluh, are ending their Port Klang-East Malaysia runs this month.

All of the company's container shipping services will thus be terminated, two months ahead of its original schedule to cease liner operations by the end of June 2012.

So far, MISC has only managed to sell two of its largest and newest units, the 7,943 teu Bunga Seroja Satu and Bunga Seroja Dua built in 2006 and 2007 respectively, to Greek owners for a reported price of $48m each.

It scrapped its three oldest containerships and another two were converted to naval auxiliary vessels. Nine remaining ships are still seeking buyers.

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