Asia Energy Logistics acquires heavy lift vessel

Asia Energy Logistics acquires heavy lift vessel

Hong Kong-listed Asia Energy Logistics Group has entered into a memorandum of agreement with GPO Heavylift for the acquisition of a semi-submersible heavy lift vessel at a price of $103.3m.

The 65,000dwt heavy lift vessel GPO Grace is currently under construction at Taiwan’s CSBC and will be delivered in May 2017.

GPO Heavylift has another three heavy lift vessels GPO Amethyst, GPO Sapphire and GPO Emerald under construction at CSBC.

According to Asia Energy Logistics, the vessel has already secured two charter contracts from a Norwegian company and Singapore company respectively. Total value of the contracts is $15.2m.

Asia Energy Logistics is mainly engaged in railway construction, bulk shipping and logistics. The company considers that the vessel acquisition will enable the group to diversify its business by entering into the heavy lift shipping business.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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