TOLL Group has played a straight bat to suggestions the company is considering options for its two new ships on the Bass Strait route, the Tasmanian Achiever II and the Victorian Reliance II.
A report in the Australian Financial Review this week suggested the company was considering selling the two new ships that were launched amidst much fanfare in the first quarter of last year.
A spokesperson for Toll Group indicated asset reviews were commonplace.
“As a matter of course, we’re continually assessing how and where we deploy capital across the business to ensure we are achieving the best possible return on investment,” the spokesperson said.
“The leasing of key assets such as property and cargo ships is standard practice across the logistics industry and it’s common for Toll to be reviewing such assets as part of a dynamic capital allocation strategy.”
Sources within the Tasmanian freight and logistics sector declined to go on record when approached for comment by DCN.
While previous ships on the Bass Strait route were leased, the current two ships are owned.
The Toll ships Tasmanian Achiever II and Victorian Reliance II were launched last year by Prime Minister Scott Morrison and then Opposition leader Bill Shorten.