KTB Asset Management funds three Teekay tankers

KTB Asset Management funds three Teekay tankers

South Korea’s private equity firm KTB Asset Management has today launched a fund worth around $30m to invest in three newbuild shuttle tankers for Teekay Tankers as part of efforts to accelerate the revival of local shipbuilders.

The three 155,000 dwt tankers are currently being built by Samsung Heavy Industries. The investment period is five years.

The fund has been launched as part of the Korean government’s Ocean Value-up Fund Program led by state-run Korea Development Bank to revitalise the struggling shipbuilding industry.

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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