Malaysia’s MTT set to upsize fleet with IPO
Malaysian feeder operator MTT Shipping and Logistics is reportedly poised to significantly expand its fleet with newbuilding orders for 9,000 TEU vessels. This strategic move follows the company’s approval on January 26th for its initial public offering (IPO) on Bursa Malaysia.
According to Alphaliner, MTT is currently evaluating shipyards within the China State Shipbuilding Corporation group. If these orders proceed, the 9,000 TEU vessels would represent a substantial increase in capacity for MTT, whose current fleet consists of 25 vessels ranging from 400 TEU to 1,800 TEU.
While no specific timeframe has been announced for the IPO, which aims to issue 633.5 million shares to institutional and retail investors, it is anticipated to occur within the current year.
This development was originally reported by Container News.