The Containership Company to rely on simplicity to cuts costs

WHAT makes The Containership Company (TCC) the low-cost shipping company it claims to be is not necessarily lower rates, but simplicity of operation, co-founder Jakob Tolstrup-Moller told London's Financial Times in a recent interview.

Unlike the multi-port calls of full-service shipping lines, TCC ships will sail from Taicang, an obscure port facility within the precincts of Shanghai, directly to Los Angeles and straight back again. Fees would be structured in a simple fashion and vary with fuel prices.

With just US$25 million of capital, the company has fallen short of its $60 million fund-raising initiative, said the report. Currently listed on an over-the-counter exchange in Norway, TCC plans to issue a stock market listing later in the year.

(Source: www.schednet.com)