STRATIS Orient Lines (SOL), part of Transworld Group Singapore, has expanded its fleet to a dozen ships, after buying a pair of feeder vessels formerly operated by Heung-A Line.
The Singapore-based feeder operator has acquired the 1997-built 653 TEU sister vessels Heung-A Jakarta and Heung-A Manila for US$5.5 million each from Global Skipsholding II, a Norwegian shipping fund owned by US investment group Blackstone, according to UK's The Loadstar.
SOL is just one of many operators buying ships since freight rates began their rocketing rise from Q3 2020, having bought four. Excluding the recently acquired ships, SOL is ranked number 52 among liner shipping operators, based on an operating capacity of 15,510 TEU, including a 1,134 TEU chartered vessel.
Formerly known as Orient Express Lines, the company was rebranded on July 1 last year and is part of the Transworld group headed by Mahesh Sivaswamy. SOL operates feeder services concentrated on South-east Asia and the Indian subcontinent, working with BLPL Singapore, an associated non-vessel owning common carrier.
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