According to the Hong Kong Stock Exchange on October 14, T.S. Lines Ltd. successfully passed the listing hearing of the Hong Kong Stock Exchange and may be listed on the main board of Hong Kong soon. JPMorgan Chase&Co. and China Merchants Securities International are the joint sponsors.
According to public information, TS Lines was established in 2001 and is a container shipping company focusing on the Asia-Pacific region. It operates its service network in a strategic way to take advantage of favorable market conditions to ensure sustainable development and competitive advantages.
In terms of fleet size, as of January 1, 2024, it ranks sixth among container shipping companies focusing on the Asia-Pacific region and 21st among global container shipping companies with a market share is 0.3%. And in December 2023, it ranks sixth among container shipping companies focusing on the Asia-Pacific region, with a market share of 2.3%.
As of April 30, 2024, TS Lines has 48 routes, including 9 independently operated, 22 joint ventures, 15 slot swaps and 2 slot leases. Its network covers 56 major ports in 21 countries and 56 regions around the world; it operates route services covering 16 countries and regions in the Asia-Pacific region.
As of April 30, 2024, Desxiang Shipping had 48 routes, including 9 independent operations, 22 joint ventures, 15 space charters and 2 space leases, covering 56 major ports in 21 countries and regions around the world. It operates routes to 16 countries and regions in the Asia Pacific region.
According to Alphaliner’s statistics, as of October 15, TS Line’s operating capacity was 42 ships with a capacity of 107,457 TEUs, including 38 owned ships with a capacity of 93,770 TEUs and 4 leased ships with a capacity of 13,687 TEUs, ranking 20th in the world in terms of capacity.
In addition, according to the latest performance data disclosed by TS Lines, the company’s revenue in 2021, 2022 and 2023 was US$1.837 billion, US$2.444 billion and US$875 million respectively, and its revenue in the first four months of 2024 was US$318 million.
TS Lines had applied for listing in Hong Kong in October 2022, April 2023 and May 2024. TS Lines Chairman Chen Desheng once said that considering Hong Kong’s lower corporate tax rate and the capital market’s emphasis on shipping stocks, he chose to go to Hong Kong for IPO.
It is worth noting that if TS Lines is successfully listed, it will become the first Taiwanese shipping company to be listed on the Hong Kong stock market.