Asia Energy Logistics acquires handymax pair from Clipper Group

Asia Energy Logistics acquires handymax pair from Clipper Group

Hong Kong-listed Asia Energy Logistics has announced the acquisition of two handymax bulk carriers to expand its dry bulk shipping business.

Two affiliate companies of Asia Energy Logistics have acquired the two 2011-built vessels, Clipper Selo and Clipper Panorama, from Clipper Group for a total of $20.6m. Delivery of the vessels will take place in March.

Asia Energy Logistics said it intends to seize the opportunity to expand the dry bulk shipping business after taking into account the improving performance of its shipping and logistics segment and the potential recovery of the international shipping market.

Additionally, the company has entered into charter contracts with an undisclosed third party for the two vessels for a fixed period of 23-25 months with an option to extend the charter period by 11-13 months.

The latest acquisition will increase the Hong Kong company’s owned bulker fleet to three vessels.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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