Straits Orient Lines (SOL), part of Transworld Group Singapore headed by Mahesh Sivaswamy, is expanding its fleet with the acquisition of two feeder boxships from Blackstone-owned Obligo.
The Singapore-based company has snapped up the 1997-built 653 teu pair, Heung A Jakarta and Heung A Manila, for $5.5m each.
The transaction marks SOL’s fourth acquisition this year after having bought the 1,702 teu Sol Promise from the Dutch shipowner Vroon and the 1,155 teu Asiatic Dawn from fellow Singapore-based operator Asiatic Lloyd.
The company has grown its fleet to 14 owned ships in total with an operating capacity of 19,622 teu.
