Australian ASP buys Silver Fern

Australian-based ASP Ship Management Group has acquired the New Zealand-based ship management and crewing company Silver Fern Shipping, previously owned by the four oil majors BP, Chevron, Mobil Oil and Shell.
Under new commercial arrangements ASP Group will introduce the three-year old products tanker Torea onto the New Zealand coast under demise charter from Unicorn Tankships. The products tanker Kakariki, already trading on the New Zealand coast, will be chartered by the oil majors through to Silver Fern Shipping.
ASP says in a statement: “Both modern vessels will then be time-chartered to Coastal Oil Logistics Limited, a company specialising in petroleum product tanker scheduling and management of port related commercial matters on behalf of the four major oil companies in New Zealand.”
Group Managing Director of ASP Ship Management Group, David Borcoski said “that the acquisition of Silver Fern and related commercial arrangements are logical and key extensions to ASP Group shipping activities in the region”.
The CEO of Coastal Oil Logistics Limited, John Gloag said “we are looking forward to a rewarding relationship with ASP who have a proven track record in ship management. We are confident the change in our commercial structure will be seamless and together Silver Fern and Coastal Oil will continue to provide a quality service to the oil industry around the New Zealand coast.”
Mr Borcoski also said of the new arrangements “ASP Group was looking forward to working closely with the four oil majors and Coastal Oil Logistics and to assisting them with their New Zealand coastal petroleum distribution activities”.