According to Container News, Safetrans Line, a China-based liner operator focused on Russia, has sold all four of its Panamax container ships—SFT Egypt, SFT China, SFT Saudi, and SFT Turkey—to the Mediterranean Shipping Company (MSC). The sale is expected to generate a profit of $20 million per vessel. MSC has already taken delivery of two ships, renaming them MSC Banjul IV and MSC Tia V, with the remaining two set to be handed over in September. This move further strengthens MSC’s position as the leading global liner operator.
Safetrans’ Strategic Shift
Safetrans Line, which initially entered the market in 2022 to fill the gap left by operators who ceased operations in Russia following international sanctions, is now shifting its focus. The company plans to charter smaller Chinese-owned vessels to continue its services between China, Russia, and the Red Sea, adapting its strategy in response to changing market conditions.
Emergence of Sea Legend Shipping
In 2023, Sea Legend Shipping, a Singapore-based start-up, began operations in the Red Sea using SFT-prefixed ships, leading to speculation about its affiliation with Safetrans. This move follows the exit of many mainline operators from the region due to Houthi attacks, creating opportunities for new entrants like Sea Legend Shipping.
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Source: Container News
