ASL Marine completes purchase of 21 vessels

Subsidiaries of ASL Marine, a fully-integrated marine firm, have completed the acquisition of a leasehold property and 21 vessels. ASL Shipyard has acquired a four-storey office building with an adjoining single-storey and a workshop building in Singapore for S$7.5m ($5.8m) from Koon Construction & Transportation Company (KCTC). Capitol Shipping, another ASL Marine subsidiary, bought 21 vessels comprising of tugboats and barges from Gems Marine. The purchase price of the vessels is S$7.13m . KCTC and Gems Marine are both members of the Koon Holdings Limited group of companies. Singapore-listed ASL Marine, which has interests in shipbuilding, ship repair, ship conversion, ship chartering and other marine related services, owns and operates a fleet of more than 140 tugboats and barges.