“The newly acquired vessels will bring us another step closer to fulfilling our commitment to growth in order to realize more value for our stakeholders, from the investors to the consumers,” said CLC chairman Dennis Uy.
Among the acquisitions, made through CLC unit Trans-Asia Shipping Lines, is the new 400-teu Orient Spirit, that will start service on the Manila-Cebu-Manila route by the first quarter of 2018.
Another unit, PNX-Chelsea Shipping Corp, last month also acquired three vessels to serve the cargo transport requirements of the 2GO Group. These vessels are now in commercial operations.
CLC has also been actively growing externally, earlier acquiring Starlite Ferries Inc (SFI), with its 14 vessels including five Japanese newbuilds. This purchase will help strengthen its position in Southern Luzon (Batangas) to Northern Visayas (Calapan, Odiogan, Roxas) routes and together with 2GO’s 30% market share, expands the group’s market share to 36%.
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