Formosa Plastics Marine Corp (FPMC) is selling its elderly vessels as it gears up to take delivery of new ships.
The Taipei shipowner recently sold three MR tankers and has put two more up for sale, a source familiar with FPMC said.
The chemical product carriers “are getting old and it is replacing them with new ships”, he added.
Another shipping player said the sales are part of a large-scale FPMC campaign to dispose of tankers that do not serve its own cargo needs.
