[Shin Hsing] Announcement: Our wholly-owned subsidiary Norley, through its wholly-owned invested subsidiary Delight Way Limited, plans to acquire one medium-range product oil tanker.
Shin Hsing announced that its wholly-owned subsidiary Norley, via its 100% invested subsidiary Delight Way Limited, plans to acquire a 2019-built, 49,999 DWT product oil tanker for USD 39.8 million to expand its fleet.
📋 Article Processing Timeline
- 📰 Published: April 30, 2026 at 09:00
- 🔍 Collected: May 1, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 1, 2026 at 09:43 (1h 43m after Collected)
1. Name and nature of the target asset: A 49,999 DWT product oil tanker, built in 2019.
2. Date of occurrence: 2026/04/30~2026/04/30
3. Board of Directors approval date: April 30, 2026
4. Other approval dates: Not applicable
5. Transaction unit quantity (e.g., XX sq. meters, equivalent to XX ping), price per unit, and total transaction amount: One medium-range product oil tanker, USD 39.8 million.
6. Transaction counterparty and relationship with the company: HMD MR 01 Shipholding S.A., not a related party of our company.
7. If the counterparty is a related party, reasons for selecting the related party as the transaction object, previous owner, relationship between previous owner, company, and counterparty, previous transfer date and amount: Not applicable.
8. If the owner of the asset within the last five years was a related party of the company, announcement of the related party's acquisition and disposal dates, price, and relationship with the company at the time of transaction: Not applicable.
9. Estimated profit (or loss) from disposal (not applicable for asset acquisition) (deferred items should be listed): Not applicable.
10. Delivery or payment terms (including payment period and amount), contract restrictions, and other important agreed matters: 20% to be paid within 3 business days after signing and setting up the third-party escrow account, and 80% to be paid within 3 business days after receiving the vessel delivery notice.
11. Method of decision for this transaction (e.g., tender, competitive bidding, or negotiation), reference basis for price determination, and decision-making unit: Negotiation, by the company's Board of Directors.
12. Name of professional appraisal firm or company and their appraised amount: Arrow Valuations, USD 45.5 million. SSY Valuation Services Limited, USD 45.25 million.
13. Name of professional appraiser: Not applicable.
14. Professional appraiser's license number: Not applicable.
15. Is the appraisal report a limited price, specific price, or special price: No or not applicable
16. Is the appraisal report not yet obtained: No or not applicable
17. Reason for not yet obtaining the appraisal report: Not applicable
18. If there are significant differences in appraisal results, the reasons for the differences and accountant's opinion: Not applicable.
19. Name of accounting firm: Not applicable.
20. Name of accountant: Not applicable.
21. Accountant's license number: Not applicable.
22. Broker and brokerage fee: Not applicable.
23. Specific purpose or use of the acquisition or disposal: Fleet expansion.
24. Opinions of dissenting directors for this transaction: None.
25. Is this transaction a related party transaction: No
26. Date of supervisor's approval or audit committee's consent: Not applicable.
27. Is this transaction an acquisition of real estate or its right of use from a related party: No
28. Price assessed according to Article 16 of the 'Regulations Governing Acquisitions or Disposals of Assets by Publicly Offered Companies': Not applicable
29. If the price assessed according to the preceding paragraph is lower than the transaction price, the price assessed according to Article 17 of the same Regulations: Not applicable
30. Date of previous announcement of material information for the same event: Not applicable
31. Other matters to be announced: None.
2. Date of occurrence: 2026/04/30~2026/04/30
3. Board of Directors approval date: April 30, 2026
4. Other approval dates: Not applicable
5. Transaction unit quantity (e.g., XX sq. meters, equivalent to XX ping), price per unit, and total transaction amount: One medium-range product oil tanker, USD 39.8 million.
6. Transaction counterparty and relationship with the company: HMD MR 01 Shipholding S.A., not a related party of our company.
7. If the counterparty is a related party, reasons for selecting the related party as the transaction object, previous owner, relationship between previous owner, company, and counterparty, previous transfer date and amount: Not applicable.
8. If the owner of the asset within the last five years was a related party of the company, announcement of the related party's acquisition and disposal dates, price, and relationship with the company at the time of transaction: Not applicable.
9. Estimated profit (or loss) from disposal (not applicable for asset acquisition) (deferred items should be listed): Not applicable.
10. Delivery or payment terms (including payment period and amount), contract restrictions, and other important agreed matters: 20% to be paid within 3 business days after signing and setting up the third-party escrow account, and 80% to be paid within 3 business days after receiving the vessel delivery notice.
11. Method of decision for this transaction (e.g., tender, competitive bidding, or negotiation), reference basis for price determination, and decision-making unit: Negotiation, by the company's Board of Directors.
12. Name of professional appraisal firm or company and their appraised amount: Arrow Valuations, USD 45.5 million. SSY Valuation Services Limited, USD 45.25 million.
13. Name of professional appraiser: Not applicable.
14. Professional appraiser's license number: Not applicable.
15. Is the appraisal report a limited price, specific price, or special price: No or not applicable
16. Is the appraisal report not yet obtained: No or not applicable
17. Reason for not yet obtaining the appraisal report: Not applicable
18. If there are significant differences in appraisal results, the reasons for the differences and accountant's opinion: Not applicable.
19. Name of accounting firm: Not applicable.
20. Name of accountant: Not applicable.
21. Accountant's license number: Not applicable.
22. Broker and brokerage fee: Not applicable.
23. Specific purpose or use of the acquisition or disposal: Fleet expansion.
24. Opinions of dissenting directors for this transaction: None.
25. Is this transaction a related party transaction: No
26. Date of supervisor's approval or audit committee's consent: Not applicable.
27. Is this transaction an acquisition of real estate or its right of use from a related party: No
28. Price assessed according to Article 16 of the 'Regulations Governing Acquisitions or Disposals of Assets by Publicly Offered Companies': Not applicable
29. If the price assessed according to the preceding paragraph is lower than the transaction price, the price assessed according to Article 17 of the same Regulations: Not applicable
30. Date of previous announcement of material information for the same event: Not applicable
31. Other matters to be announced: None.