JACCAR Holdings Sells Shares of Chinese Shipyard

Monday, April 23, 2012

JACCAR Holdings has helped to build Sinopacific Offshore and Engineering (SOE) into one of China’s leading providers of LPG/LEG vessels, offshore cranes, and offshore production, through its 25% share in the company. JACCAR Holdings has  sold its shares to Pearlfine Ocean Worldwide, who joins Evergreen Holding Group and Sinopacific Shipbuilding Group in the new shareholding structure. Since 2009 JACCAR Holdings has ordered six LPG Tiger 5000cbm, (first vessel to be delivered at the end of May 2012) and 8 LEG Tiger 12 000cbm (delivery as from 2013) from SOE. This investment, coupled with close cooperation between SOE and JACCAR Holdings have positioned SOE as a strong, innovative and unique player in the LPG/LEG field worldwide. With the targeted listing of SOE and the strong interest now shown by many other customers, this move will eliminate related party transactions as well as possible conflict of interest and enable SOE to venture out into new projects with new clients for profitable growth. All the vessels ordered by JACCAR Holdings from SOE will be added to the existing fleet of Greenship Holdings, which is a fully owned subsidiary of JACCAR Holdings in Singapore. The aim is to own and operate advanced, fuel efficient and environmentally friendly vessels. Total investment in the gas and bulk sectors is around $900 M. The modern fleet will provide customers with reliability and cost efficiency whilst setting new standards for safe and sustainable gas transport at sea.

 

People & Company News

MN100: Viega LLC

The Company: Viega was founded in Germany in 1899. By 1901, the company began to manufacture home plumbing products, growing and expanding internationally. In 1999,

Abu Dhabi Ship Building Commissions First Floating Dock

Abu Dhabi Ship Building PJSC (ADSB) has commissioned its first floating drydock located in Mina Zayed as the company looks to expand its commercial service offering.

MN100: Glosten

The Company: Glosten is an employee-owned full-service consulting firm of naval architects, marine engineers, electrical engineers, and ocean engineers. Founded in 1958,

Shipbuilding

Abu Dhabi Ship Building Commissions First Floating Dock

Abu Dhabi Ship Building PJSC (ADSB) has commissioned its first floating drydock located in Mina Zayed as the company looks to expand its commercial service offering.

NAT Names 2 New Tankers in South Korea

wo new tankers, Nordic Star and Nordic Space, were named August 24 for owner Nordic American Tankers Limited (NAT).   NAT founder and chairman Herbjørn Hansson was present at the naming ceremony,

Japanese Yards Mull Shipbuilding Alliance

Four major Japanese shipbuilders are in discussions to form an alliance in hopes of riding out the industry slump.   Mitsubishi Heavy Industries, Ltd. (MHI) announced

Finance

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.0867 sec (12 req/sec)