Yayasan Sabah Plans Expansion

Thursday, January 26, 2006
Yayasan Sabah Group is set to play an active role in the chemical marine transportation industry, planning to expand its involvement in this sector with the acquisition of more tankers, the Business Times reported. The group through its joint-venture company, GS Tankers Sdn Bhd, inked a shipbuilding contract for the construction and sale of a chemical tanker with Nok Bong Shipbuilding Co Ltd, a shipbuilder from Koje City, Kyungnam, South Korea. GS Tankers, a joint-venture company between Yayasan Sabah subsidiary Yayasan Sabah Shipping Sdn Bhd and Gagasan Carriers Sdn Bhd, was set up to own and operate the new 10,800-deadweight-tonne chemical tanker costing $19.5 million which is expected to be delivered by August next year. The vessel will have 12 chemical cargo tanks with capacity of 12,000 cu m each, suitable for carrying many types of chemical cargo like methanol as well as palm oil. Yayasan Sabah Shipping would finance 90 percent of the vessel cost with the remaining 10 percent to be borne by GS Carriers. (Source: www.btimes.com)
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

Van der Vlist Expands Zeebrugge Facilities

Van der Vlist Zeebrugge has expanded the capacity of the Zeebrugge site. The indoor and outdoor storage facilities now occupy a surface of 50,000 m². A new 950

Keppel FELS to Deliver 100th Jackup Rig

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO),

Tanker Trends

Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia.

Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather

Greek Banks Mull Cutting Shipping Portfolios

Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1040 sec (10 req/sec)