JSE-listed diversified industrial group Lonrho said on Thursday that its 45% subsidiary, South African Independent Liner Services (Sails) had signed contracts with ship suppliers for two container vessels, which would increase its fleet to four container vessels, and tonnage to 36 547 t. Sails aims to expand its fleet and services from South Africa to West Africa and Europe.
Sails was also seeking to boost its fleet by a further three container vessels of 1 100 container capacity each, Lonrho said in a note to the JSE. It planned to have these within the next four months.
The global shipping market had seen a crunch over the past few months as developing world economies show unprecedented growth. The prices of ships have reached record levels, industry officials said. Lonrho announced its investment in SAILS in July.
Sails was also seeking to boost its fleet by a further three container vessels of 1 100 container capacity each, Lonrho said in a note to the JSE. It planned to have these within the next four months.
The global shipping market had seen a crunch over the past few months as developing world economies show unprecedented growth. The prices of ships have reached record levels, industry officials said. Lonrho announced its investment in SAILS in July.