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Seaarland sets up Singapore subsidiary

Seaarland sets up Singapore subsidiary

Singapore: Amsterdam-based Seaarland Shipping Management has set up a new company in Singapore named Seaarland Management Services Singapore. In addition to managing four recently ordered 115,000dwt mini-cape bulkers from China's New Times Shipyard, the company would be charged with spearheading the group's expansion into the lucrative Asian market.

Seaarland md Antonio Zacchello, said "Our $350m newbuilding programme will extend our bulk fleet to twelve modern ships by the end of 2011, while newbuildings for our tanker fleet include sixteen more product tankers from China and Korea, ranging from 37,000 to 74,000dwt, and three more coated aframaxes from China - all due for delivery between 2007 and 2011."

"At the end of the newbuilding programme the Zacchello Group will be controlling about 80 ships including a fleet of 20 long-term time chartered ships, in addition to 50 per cent of the ten SynerGas Ethylene / lpg carriers."

"We need a strong commercial presence in Asia, where we see a lot of opportunities for the sort of long-term relationships on which our business is founded," he said, adding "Singapore has good infrastructure, the right attitude to business and it is becoming a vital shipping hub."

Seaarland Shipping Management currently operates 44 modern vessels, including a fleet of 14 time chartered ships, mostly product tankers. It is part of the Zacchello Group, which also includes Motia Compagnia di Navigazione, based in Venice, as one of the shipowning arms and the technical management arm for the group fleet.

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