JAG

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Latest news

Winson readies this year’s quickest asset play

Winson Group’s shipping arm has put two ships it has just bought up for sale. The Taiwanese company is moving fast; one of the ships involved has not even been renamed yet. Winson is not known for its asset plays, having only sold one ship in the last five years. In October Winson tapped fellow Taiwanese owner Formosa Plastics for two ageing LR tankers, Formosa Falcon (now renamed Sino Pacific) and the FPMC P Alpine. Winson was able to bag the ships at just $7m each, with Formosa Plastics understood to be keen to get the ships off its books having been marketing them for many months. The ships are now being marketed by Winson with a price tag of $8m each.

Sold in package deal

Formosa have committed their two LR1 tankers “Formosa Falcon” 70/2005 Japan & the one year older “Fpmc P Alpine” 70/2004 Japan for USD 7.0 mill to Winson after failing to Chinese for USD 8.2 mill.

Sold

Sold for $16.5M to european buyers