TS LINES (02510) intends to sell ships and lease ships.

TS LINES (02510) announced that on January 22, 2026, the seller (a wholly-owned subsidiary of the company) entered into a sale agreement with the buyer to sell the vessel TS SHENZHEN, a container ship, for a price of $23 million (equivalent to approximately $179.4 million Hong Kong dollars). The Board believes that the Group will realize immediate financial benefits from the sale. Additionally, the sale will help the Group reduce costs associated with owning the vessel, including but not limited to crew, insurance, and maintenance costs; optimize its fleet size without impacting its ability to meet future chartering needs; and raise additional funds for capital expenditures, investments, and other strategic businesses. On January 22, 2026, TS Singapore (a wholly-owned subsidiary of the company), the seller, and the buyer entered into a vessel charter agreement with a term from January 24, 2026, to March 31, 2026. In the past, TS Singapore has been leasing the vessel from the seller under various charter agreements (including time charter agreements) since January 2025, in order to meet market demand for various trade routes' capacity changes, and operate trade routes with the appropriate vessel capacity. In January 2026, the vessel was sold from the seller to the buyer, and the company believes that maintaining this leasing arrangement for transition purposes is beneficial to avoid disruption to its normal business operations during the short period of the vessel charter agreement.