Sinotrans acquires two vessels

Hong Kong: Sinotrans Shipping has entered into an agreement to purchase two capesize vessels for an aggregate consideration of $98.5m.

Sinotrans Ship Trading, a subsidiary of the company, is to acquire two 178,978 dwt bulker carriers – E.R. Brazil and E.R. Beilun – from Germany's E.R. Schiffahrt for $49.25m each.

The delivery of the two vessels is expected to be made in the coming month. Sinotrans Shipping is one of the largest shipping companies in China in terms of its owned bulker fleet. [31/10/14]

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