Malaysia’s MTT set to upsize fleet with IPO

Malaysian feeder operator MTT Shipping and Logistics is reportedly
eyeing newbuilding orders for 9,000 TEU ships, after securing approval on 26 January
for its proposed initial public offering on Bursa Malaysia.

Alphaliner said today that MTT is now assessing shipyards under the China State Shipbuilding Corporation umbrella. Should the orders materialise, the 9,000 TEU ships will be the largest ever in MTT’s fleet, which now comprises 25 400 TEU to 1,800 TEU vessels.

No timeframe was stated for the IPO that will see MTT issue 633.5 million shares to institutional and retail investors, but it could be within this year.