Wednesday, July 20, 2011

Hyundai Mipo to win PCs

French tanker owner Socatra will declare options for two product tankers at Hyundai Mipo Dockyard in South Korea after investment group Tikehau Capital Partners pumped in cash.

The companies said Tikehau had acquired an unspecified interest in Socatra subsidiary Angelmar Corp through a share capital increase.

It has become the second shareholder in the company, which owns six 37,000-dwt products tankers valued at $280m.

A statement said: “These product tankers are chartered by first class operators for an initial three-year period.

“The capital increase will allow Angelmar Corp to acquire two new similar product tankers to be delivered in October 2012 – January 2013, increasing the fleet to a total of eight vessels.”

Socatra ordered four of its six vessels at Hyundai Mipo Dockyard in March 2010.

That order came with four options attached.

Published : July 20, 2011

Source: Asiasis


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