PACC Container Line, a Singapore-based Asian feeder operation, has quit the container shipping business after restructuring, reports London's Loadstar.
This was the result of Malaysian conglomerate Kuok Group's restructuring. While the Accounting and Corporate Regulatory Authority of Singapore shows PACC Container remains registered, Kuok Group said it had decided to stop shipping containers.
"We have ceased the feeder services and exited the container shipping sector to focus on our dry bulk, breakbulk, tanker and gas business portfolio," said the company.
"In 2020, Pacific Carriers underwent a fleet renewal and consolidation of its dry bulk, breakbulk, projects and parcel businesses as part of the group's wider strategic review," it said.
VesselsValue data shows that PACC Container sold its last containership, the 526-TEU PAC Cergas, to Indonesia's Meratus Line in April.
PACC was established in 1983 to provide regional breakbulk and container services for PCL in south-east Asia and its fleet peaked between 2001 and 2003, when it took delivery of four 1,100-TEUers. PACC deployed three vessels to carry containers from Malaysia's Pasir Gudang port and Indonesia's Pontianak port to be transshipped from Singapore to Europe, the US and Australasia.
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