DESPITE expecting flat growth in international shipping this year, K-Line Philippines is expanding its fleet to achieve greater efficiencies and growth.
K-Line country president Octavio Katigbak in an interview said the company will accept delivery of at least three container vessels this year as part of its mother company’s refleeting program.
He said the new vessels coming into the Philippines will be used for a new service that will take advantage of the booming Chinese economy, as well as for other services offering more connections to the US, Europe and the rest of Asia.
“The trend is really containerized shipping. We are upgrading our fleet to be more efficient and eventually increase reach and growth,” Katigbak explained.
“Although we expect that like last year growth will be flat this year, the upgrading will be for the future,” Katigbak, who is also president of the Association of International Shipping Lines, added.
K-Line, one of the world’s leading shipping firms, is increasing its fleet by 8% this year from 460 to 500 vessels and by another 52% from 2009 to 2010.
The 500 vessels in operation this year include 90 containerships, 90 car carriers, 185 bulk carriers, 48 liquefied natural gas tankers, and 31 oil tankers.
The company said the refleeting program is a counter measure against its competitors to get a larger chunk of the international freight market until 2011.
