MC Shipping Acquires Tanker
June 16, 2006
MC Shipping Inc. has taken further steps to focus on the liquefied petroleum gas (LPG) shipping sector with an agreement to acquire a liquefied petroleum gas (LPG) tanker from the A.P. Moller - Maersk Group of Denmark. The vessel, Hans Maersk is a 1993-built semi-refrigerated LPG carrier of 20,700 cbm capacity. The acquisition is being funded out of current cash holdings and a bank loan. The vessel is expected to be delivered before July 31, 2006. Simultaneously with the purchase, she will be time-chartered back to A.P. Moller - Maersk for a minimum period of 5 years.
The Company further announced that it has signed contracts to sell its two small coastal bulkers, Bay Trader and Link Trader. Delivery to buyers is expected within June 2006.
Related News
US House Panel to Hold Hearing on Baltimore Bridge Collapse
Houthi Leader Vows to Escalate Attacks on Merchant Shipping
Fukuoka Shipbuilding Delivers New Chemical Tanker to Fairfield
Conflict Heating Up Over Cosco's Megaport in Peru
Authorities Identify Sixth Bridge Collapse Victim