Singapore Shipping acquires new PCTC

Singapore: Singapore Shipping Corporation announced that it has purchased a newbuild Pure Car Truck Carrier (PCTC) for $80m.

The vessel is expected to be deployed on a long term charter to a blue-chip shipping major. The company will fund the investment with internal resources and bank borrowings.

No further details of the deal have been revealed.

Singapore Shipping Corporation currently operates three car carriers. [09/09/14]

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