The company’s 83,600 dwt Baru converted from tanker to dry bulk mode after cleaning ops.
The state guarantee will allow the shipyard to seek loans from banks.
The barge, to be built by Fincantieri Bay Shipbuilding, will provide LNG bunkering solutions along the US East Coast.
The acquisitions marked the company’s expansion into new areas of LPG.
The company signed a deal to purchase ten 2019-built tankers, with options for four more units.
Ethane trade on the U.S.-China route has the potential to create demand for about 30 VLECs, Drewry said.
The loan would be used to finance four new LR1 product tankers being built at Guangzhou Shipyard.
Profit for the period increased to USD 753 million, representing a growth of 26.8% on a reported basis.
The alleged cartel conduct is related to shipping of certain vehicles to Australia between June 2011 and July 2012.
IMO 2020 sulphur cap, earlier than usual 2020 Chinese New Year would “further disrupt and unsettle supply chains.”