RCL in fleet renewal plans, sells two older containerships

In its half year results statemen RCL said it was selling two vessels over the age of 25 years old which will be delivered to their new buyer in Q3 2023. The company said the sale was to improve efficiency of is fleet and expects that further old vessels will be depreciated in future.

RCL is looking to replace older vessel with newer tonnage. In the meantime, the company is actively seeking the opportune timing and favourable pricing to further replace its aging vessels,” it said.

The feeder and Asian regional line reported a first half of THB 1.49 billion ($42.4 million). The company’s net profit in Q2 2023 was THB576 million down 37% on THB913 million profit achieved in Q1 this year.

RCL said freight rates dropped from $394 per teu in the first quarter of 2023 to $353 per teu in the second quarter of 2023 a result it said of high competition as the market returns to normal. The container shipping market has also been impacted by slower economic growth from China.