Philippines owner Chelsea Logistics Corp (CLC) is expecting to increase its profit after recent vessel acquisitions.
The Dennis Uy-controlled tanker and ro-pax group said its capacity has risen 10% since its $116m July IPO in Manila.
It has since bought Starlite Ferries and Worklink Services.
This is expected to have a “meaningful contribution” to earnings this quarter, it told the Philippines Stock Exchange.
CLC pledged to keep expanding and modernising its fleet.
It posted a quadrupling of profit in the first nine months of 2017.
The biggest shipping company in the Philippines said net earnings were PHP 405.7m ($8m) after it bought into passenger and freight operator 2Go.
Starlite is listed with 15 ships, of which five are new ro-paxes built in Japan in 2016 and 2017.
Before these deals, the CLC group, through Chelsea Shipping, Trans Asia Shipping and 2Go, had a fleet of 57 tankers and ro-paxes.
