CU Lines’ global expansion plans have been derailed with the withdrawal of its
last 2 ships on the Asia-Med and Asia-USWC routes. CUL’s Initial Public Offering
(IPO) bid first launched in January 2022 has already been withdrawn, and its
goal of operating a fleet of 45 ships for 160,000 teu by 2025 will not be
achieved with its current operated fleet shrinking by 67% from its peak in 2022
to just 30,700 teu currently. CUL has a remaining orderbook of 6 ships with a
total capacity of 24,200 teu in