AsiaTankers

Semua Shipping finds a buyer

Malaysia’s R&A Telecommunication Group is buying Semua Shipping from Sumatec Resources.

Semua currently owns six 8,000 dwt product tankers. All these vessels currently have long-term charters with Shell Malaysia. R&A will issue new shares to help fund the RM150m ($37.5m) acquisition. The deal still has to go through a due diligence phase.

Sumatec has put Semua in the shop window for some time. Asia Bioenergy Technologies last year entered into a heads of agreement to buy out Semua, but the deal failed to materialise.

Tags

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button
Close
Close