Palm oil giant acquires Singapore ship charterer
Wilmar International Ltd., the world’s largest listed palm oil firm, said on Tuesday its ship-operating unit had paid $9.6 million in cash for a 60 percent stake in a Singapore ship chartering firm, Reuters reported.
Wilmar acquired the stake in Raffles Shipping Corp. which manages 22 vessels with a combined tonnage of 800,000 deadweight tons.
The acquisition will formally take effect Nov. 1, with Raffles managing and operating Wilmar’s fleet of liquid oil tankers, as well as providing support services like bunkering, technical management and freight management.
Palm oil giant acquires Singapore ship charterer
