The Singapore-listed company has acquired a 100% shareholding Japanese company Arena Godo Kaisha (Arena GK) to buy a newbuilding due to be delivered to Minato Kaiun in the second quarter of 2015.
No details of the vessel were given which will be acquired at a cost of JPY920m ($9.1m).
Minato Kaiun will then bareboat charter the vessel for five years from Arena GK with an option to buy.
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