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PST looking to swell investment portfolio

Singapore: Pacific Shipping Trust remains on the look out for acquisitions as revenues grow. The Singapore-listed trust reported fourth quarter revenues of $15.6mn, up by 8% on the same period in the previous year.  PST is paying a fourth quarter distribution to unit holders of 0.827 US cents.

"Our growth strategy has not changed and we will continue to actively explore various avenues to diversify our vessel portfolio," said Teo Choo Wee, acting executive of PST Management. He added the trust was cautiously optimistic that if the global economic recovery continues there would be increased demand for ships. [21-01-10]

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