Singapore Shipping Corporation (SSC) in the past 2 financial quarters have announced the purchase of 2 10 year old pure car and truck carriers. They will be bringing in US$188 mil in revenue over the duration of the charter. We thought the next deal would be some time away. Turns out we are very wrong. In an announcement  made on the evening of 8th September (details here), they announced the purchase of an US$80 mill new build Pure Car and Truck Carrier (PCTC). Upon delivery, this ship will be chartered to a blue chip shipping major. The purchase will be funded by internal resources and bank borrowings.

Summary of SSC acquisition trail

2010: US$50 million purchase of Boheme 2011: US$16 million purchase of Sirius Leader 2013: US$12 million purchase of Cougar Logistic assets 2014: US$33 million purchase of 2 x PCTC vessels 2014: US$80 ......