There was an announcement made yesterday where Singapore Shipping Corp (SSC) decide to sell their 30 year old RORO pure car and truck carrier for a sum of money.
Announcement here
We talk about Singapore Shipping Corp in these past articles
The ship held a book value of 4.2 mil USD and they managed to sell it for 5.1 mil USD. Seems like although ships usually have a 30 year lifespan, there are still folks who want these high maintenance ships.
I felt it’s a good deal for SSC since they earned roughly 1.3 mil from Singa ACE last year and this is like getting 4 years of earnings immediately.
With the ship that was announced hush hush in the last quarterly report, that is anticipated to make up for the loss chartered income ......
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