Eastern Pacific Shipping (EPS) has seen its fleet increase in value by almost $700m in 12 months, new industry figures show.
It now controls a fleet of 113 ships worth $4.68bn versus the fleet of 102 ships worth $4bn seen in April 2018, according to on-line valuations company VesselsValue.
The injection of fresh tonnage means Eastern Pacific has also maintained its position as Singapore largest shipowner.
The Idan Ofer-backed shipowner fleet is set for further growth over the next couple of years back on its sizeable newbuilding orderbook.
“In the past year, Eastern Pacific Shipping has ordered four LR2 Tankers for 2020-21 delivery, for a combined price of $192m,” VesselsValue told TradeWinds.
“Since the 1 April 2018 they have also ordered seven ULCVs, all for 2021 delivery; these are currently valued at $125-130m each.
“This equates to about $900m in total, so they have acquired over $1bn in newbuilds over the past 12 months and they currently have over $1.8bn worth of newbuilds on order.”
Coming in at second place is containership owner Ocean Network Express (ONE) which has seen its fleet grow by 38 ships worth $1.4bn over the past year.
It now boasts a fleet of 108 ships with an estimated value of almost $4.3bn against the 70 ships worth $2.85bn this time last year.
Singaporean tanker and bunkering shipping company Ocean Tankers moves up a place from 2018 to Singapore’s third largest shipowner, according to VesselsValue.
Over the past 12 months its fleet is said to have expanded by some nine vessels worth $190m giving it a current fleet of 149 ships worth $2.27bn.
Pacific International Lines (PIL) has dropped down a place from a year ago to the Lion Republic’s fourth largest shipowner.
However, its fleet is said to have shrunk by foor ships from a year ago and now stands at 130 vessels worth an estimated $2.26bn.
A newcomer to the top five Singapore shipowners is product tanker owner Hafnia, courtesy of BW Group’s acquisition of the company earlier this year.
The Michael Skov-led shipowner is said to control a fleet of 80 vessels worth just over $2bn, according to data from by VesselsValue.
Including the product tankers managed under Hafnia Management, Hafnia has 186 ships under management – including future committed vessels – and 106 owned and chartered-in vessels.
VesselsValue says it considers a shipowner to be Singaporean if they are registered in that country, listed on the stock exchange or have their head office in the country.
In total the top five Singapore shipowners control a fleet of 58 ships worth a total of $15.5bn, according to VesselsValue’s data.
