[Shinning] Important subsidiary Shinning Shipping (Singapore) plans to purchase a VLCC from a related party
Shinning Shipping announced on June 1, 115, that its 100% owned subsidiary, Shinning Shipping (Singapore), intends to purchase a 296,888 DWT VLCC from related party Everwin Maritime Limited for US$75 million, citing group operational strategy.
📋 Article Processing Timeline
- 📰 Published: June 1, 2026 at 09:00
- 🔍 Collected: June 2, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: June 2, 2026 at 08:17 (17 min after Collected)
1. Nature of the asset: 296,888 DWT VLCC. 2. Date of occurrence: 115/6/1. 3. Board approval date: 115/6/1. 5. Transaction amount: US$75 million. 6. Counterparty: 100% owned subsidiary. 7. Reason: Group operational strategy. 10. Payment terms: Within 3 months after delivery. 11. Method: Negotiation. 12. Valuation: Arrow Valuations US$82M, Clarksons Valuations US$81M. 31. Completion: Expected between June and July 115.
FAQ
Why is Shinning Shipping buying a vessel?
It is part of the group's operational strategy.