Malaysia’s Jasa Merin has branched out into chemical tankers through the acquisition of three vessels from subsidiaries of Boustead Heavy Industries Corp (BHIC) for $5.7m per tanker.
The 7,000-dwt chemships are Chulan 1 (built 2009), Chulan 2 and Chulan 3 (both built 2011).
BHIC said the vessels are being sold at a combined RM 12m ($2.8m) loss, but the sales were negotiated at the “best available market rate” and will be paid in cash.
The sales are part of BHIC’s restructuring efforts and proceeds will go towards the Malaysian company’s existing loans and borrowings, a filing said today.
The sale is expected to be concluded by February 29, 2016.
