When Mr. Chen, Chief Executive Officer, established TS Lines, he had already accumulated solid 20-year experience in the ocean freight industry that included freight ship procurement, shipping operations, new freight route establishment, and financial management. He possesses sharp insights and management skills gained from his encounters with numerous turbulent cycles in the ocean freight industry and his studies of predictive industry forecasts through scenario simulations. He seeks to distinguish TS Lines as a reliable service provider through his emphasis on the company vision and corporate culture of service, excellence, shared goals, flexibility, motivation, and advancement. TS Lines was established on March 2, 2001. At the time of establishment, TS Lines immediately became a full service company with complete teams of personnel in documentation, operations, and financial management. This has propelled TS Lines to the TOP 20 ocean freight company in the world shortly following its creation. Although TS Lines came onto the scene during an economic recession, the company took advantage of its flat organizational structure and its experienced and energetic employees to lower operating costs and maintain profitability throughout the recession. Through Mr. Chen’s leadership and personnel management, TS Lines was very competitive. Additionally TS Lines took advantage of the recession by acquiring fixed assets at great discounts that included high quality ships, containers, and other resources to diversify its operations, thus minimizing its market risks. These efforts increased TS Lines competitiveness in ocean freight market and accelerated its growth.
We are a leading, fast-growing and one of the most profitable Asia region focused container shipping companies. We primarily operate in the Asia region, which is the largest container shipping region in the world and one of the fastest growing regions in terms of shipping volume. We have an extensive network in the Asia region market, where we operated 41 services covering 16 countries and regions, as of June 30, 2022. Within the Asia region, we have a strong focus on and provide high-frequency services in the short-haul services originating from the Greater Bay Area in China, where we have had a presence for two decades. Moreover, in recent years we also expanded our network by launching several new long-haul services. We believe these services complement our core service offering, enable us to provide greater diversity of services to our customers, and represent great opportunities for business expansion.
TS Lines’ mission is to become a leading premium container shipping company promoting agile and seamless logistics solutions for international trades. To achieve this mission, we plan to pursue the following strategies:
• Strengthen our leading position in the Asia region market: We plan to enhance the frequency of services in our core services and upgrade the relevant vessels deployed in the Asia region to service the growing customer demand. We are exploring the opportunity to launch new liner services covering more ports in the Asia region, and we intend to establish more offices in selected cities in the Asia region.
• Selectively expand long-haul services with strong profitability potential: We plan to selectively expand our existing services and explore new markets for long-haul services which present strong potential profitability, leveraging our dynamic operating model.
• Expand and optimize our fleet of vessels and containers: We plan to expand the number of our owned vessels in a disciplined manner in order to optimize our cost structure and increase our shipping capacity or replace chartered-in vessels when their charters expire, depending on the container shipping market conditions.
• Continue to promote digitalization of our business: We plan to invest in our digital transformation by deploying advanced IT solutions to enhance the coordination and communication across all of our branches and offices, and to implement a next-generation internal operation system to ensure seamless coordination across our network.
• Strengthen our strategic collaboration with other carriers and selectively pursue strategic investments in port operation: We intend to further expand our strategic collaboration with our existing and potential partners, to further enhance our service coverage and capabilities, and achieve greater economies of scale in our services in order to further optimize our cost level.