Ship agency Seacorp's founder Craig Thompson is exploring a float or an equity partnership for his Seacorp shipping house as part of a new growth phase which will likely include its first ship purchases. The Fremantle firm provides a range of marine services, including chartering vessels for clients to carry bulk commodities such as iron ore and grain, and boasts a network of offices linking WA with Shanghai, Singapore, Tokyo and Dubai, the Australian media reported citing the ship agency's head.
The firm plans to expand its business founded in 1998 into a fully fledged shipping company by starting its own fleet with the initial purchase of a single cargo ship. Additional vessel purchases could follow, funded by a float or equity partners.
The Seacorp owner and managing director is looking to take advantage of lower prices resulting from excess global shipping capacity to buy a two or three-year-old vessel of 30,000 tonnes to 65,000t, possibly as early as the next 12 months. Such vessels are changing hands for more than $US15 million ($21 million).
Seacorp had relevant experience, he said, having operated the government-underwritten State coastal shipping service until three years ago.
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