Singapore's Samudera hikes stake in LNG East-West Shipping
Singapore-based Samudera Shipping Line has bought an additional 25% stake in LNG East-West Shipping Company (LNG EW) from Japan’s NYK for $14.8mn, it said on December 14.
Post the transaction, Samudera’s shareholding will increase to 50%. NYK will own the remaining 50% shareholding interest in LNG EW.
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Samudera said the acquisition will help the company better realise value from LNG EW, which engages in LNG transportation services for customers in Singapore.
The acquisition is expected to complete by the middle of this month.