The launch of the bunker tanker, constructed at ES Group's 50% owned subsidiary's shipyard in Thailand, is a move beyond its core business of new building, conversion and repair of oceangoing vessels.
The bunker tanker Sea Tanker I, upon delivery in the third quarter of 2012, will be chartered to Sea Hub Tankers on a long-term basis to operate in Southeast Asian waters.
The second bunker tanker is scheduled for completion and deployment in the second half of this year.
“With Singapore as a shipping hub and the world's largest bunker port by sales volume, we see growth opportunities in bunkering. Venturing into vessel-owning and chartering will allow the group to ride on the growth in this expanding industry,” said Christopher Low, ceo of ES Group.
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