Kuok Group

Mystery owner orders up to 10 MPSVs at PaxOcean

PaxOcean MPSV

PaxOcean, a subsidiary of Singapore’s Kuok Group says that an undisclosed “leading Greek shipowner” has awarded it a contract to build up to ten state-of-the-art multi-purpose service vessels (MPSVs).

Designed by Salt Ship Design, the 5,000 dwt, DP2 vessels will be built at PaxOcean’s shipyard in Zhousan, China, with deliveries scheduled from third quarter of 2026 onwards. D

PaxOcean says that they incorporate the latest advancements in offshore vessel technology. and “will stand out for their...

https://www.marinelog.com/offshore/mystery-owner-orders-up-to-10-mpsvs-at-paxocean/

PIL sells ship as company prepares for crucial creditors meeting

Singaporean liner operator Pacific International Lines is continuing to offload its ships as it works to bolster its balance sheet, in preparation for its critical creditors meeting on 1 February.

PIL’s latest ship sale is a 1,391TEU multi-purpose vessel, the 2012-built Kota Bintang, which was sold for US$16.61 million.

The buyer is Pacific Carriers Ltd, a Singapore-based subsidiary of Malaysian conglomerate Kuok Group, and the ship has been renamed PAC Capella. Pacific Carriers operates an...

https://container-news.com/pil-sells-ship-as-company-prepares-for-crucial-creditors-meeting/

PIL fire sale continues with feeder pair

PIL has sold two more ships, as the troubled Singaporean liner operator continues its asset sales to bolster its balance sheet.

One of the ships, 2000-built 1,728TEU Kota Jati, was purchased by Chinese intra-Asia carrier, EAS International Shipping, and has been renamed EAS Osaka.

EAS operates services between China, South Korea and Japan, using a fleet of elderly vessels. The company is owned by Chinese property group Tianjin Yicheng, which acquired EAS from Malaysian conglomerate Kuok Group in...

https://container-news.com/pil-fire-sale-continues-with-feeder-pair/