Exit from core container shipping

Docking: Hubline’s container ship Hub Enzo at the port.

KUCHING: Hubline Bhd has decided to exit from its core container shipping business to stop years of losses and concentrate on the profitable break bulk cargo transportation.

The Sarawak-based company said the decision, which was made following a detailed deliberation and review of all relevant factors, was due to depressed freight rates and overcapacity of the industry.