Shin Hwa to Sell Crude Oil Tanker and Purchase New Vessel for $75 Million
Shin Hwa announced that its subsidiary, Shin Hwa Shipping (Singapore), will sell the VLCC 'Mei Sheng' for $82.5 million, expected to close in early 2027. Simultaneously, it will purchase another VLCC from Everwin Maritime Limited for $75 million, expected to close in mid-2026.
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- 📰 Published: June 1, 2026 at 21:43
- 🔍 Collected: June 1, 2026 at 21:51 (8 min after Published)
- 🤖 AI Analyzed: June 1, 2026 at 21:52 (1 min after Collected)
Taipei, June 1 (CNA) Shin Hwa announced that its subsidiary, Shin Hwa Shipping (Singapore), will sell the VLCC 'Mei Sheng' for $82.5 million, with the transaction expected to be completed between January and February 2027. Additionally, the company will purchase a VLCC from its affiliate, Everwin Maritime Limited, for $75 million, with the transaction expected to be completed between June and July 2026. Shin Hwa stated that these moves are part of its fleet management strategy.
FAQ
What is the strategy of Shin Hwa?
Optimizing and improving efficiency through fleet renewal.