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TMT sells eight bulkers to Star Maritime

TMT sells eight bulkers to Star Maritime

Taipei: Taiwan Maritime Transport Co (TMT) has thrashed out a significant deal with Greek firm Star Maritime to sell eight bulkers for $345m. Of this $224.5m is to be paid in cash, with TMT also acquiring 12.5m shares worth $120.7m in a newly formed subsdiary of the Greek firm, Star Bulk, equivalent to about 30% of the company.TMT has recently been investing heavily in the gas sector and it is thought the extra funds will likely go on further LNG ships acquisitions.  [18/01/07]

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