Greater China

Greathorse Chemical gallops ahead with new investment

Shanghai: Standard Chartered Private Equity (SCPE) and Tiger Group Investments are to invest $95m in Shanghai-based Greathorse Chemical.

Other unnamed financial investors are investing an additional $65m in Greathorse Chemical.

The cash will go towards building a fleet of stainless steel chemical tankers as well as buying secondhand ships.

The company has an existing fleet of eight vessels and has a further four vessels under construction.

"We think that the chemical tanking business offers attractive returns for investors as we believe the demand for chemical shipping services is expected to grow over the next several years," said Graham Porter of Tiger Group Investments.

Greathorse Chemical is a sister company to dry bulk firm Greathorse Shipping.  [16/09/14]


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