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.

 
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ClassNK Holds LNG Fuel Technologies Seminars

ClassNk held LNG-Fuelled Vessel Technologies seminars in Shanghai and Singapore on 22 July and 24, July 2014, respectively. With the industry looking to adopt

USCG Change of Command in Galveston

A Coast Guard lieutenant commander and graduate of Hastings High School in Houston, took command of Maritime Safety and Security Team Galveston during a ceremony in Galveston Thursday.

Miller Rejoins TITAN as Salvage Master

Captain Stuart Miller has rejoined Crowley Maritime Corporation’s TITAN Salvage operations team as salvage master, bringing with him over 30 years of worldwide,

Shipbuilding

Horizon Delivers 4th 74’ Towboat for Canal Barge Co.

Horizon Shipbuilding, Inc., Bayou La Batre, AL, has delivered the fourth in a series of 74’ towboats to Canal Barge Company, Inc. of New Orleans, LA.    The

HydroComp to Hold Propeller 'Mini-Workshop'

A special version of HydroComp's intensive Propeller Workshops will be brought to Tampa before the start of IBEX 2014.   The Mini-Workshop is a special version

Danos Adds Environmental Services

Danos recently added an Environmental Services Division to the company’s collection of oilfield related services, which includes production workforce, construction,

Finance

Canal Project Slows Panama Economy Growth

Panama's economy expanded in May at its slowest pace since 2009 as major public works projects, including an expansion of the Panama Canal, slowed or wrapped up,

Gas Prices Help Offset Statoil's Output Drop

Statoil's second quarter 2014 net operating income was NOK 32 billion, a decrease of NOK 2.3 billion compared to the second quarter of 2013. Adjusted earnings were NOK 32.

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics
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: 0.1014 sec (10 req/sec)