Singapore: Singapore Shipping Corporation has extended the time to complete its expansion plans. In early January SSC said it would be buying into a ship agency, a terminal and a logistics company.
SSC has set aside S$15m to buy stakes from MYP Ltd in Hai Poh Terminals, Island Line, Nanyang Maritime (S’pore) and SSC Shipping Agencies. MYP is keen to offload its maritime stakeholdings as it wants to focus exclusively on real estate. SSC’s business is presently based on its fleet of car-carriers, which are placed on long-term charters to blue-chip operators. SSC said yesterday the deal will be concluded by April 30, and the price remains the same. [08/03/13]
