Xiamen ITG raises 1.1 billion yuan to build 6 bunkering ships and purchase 2 bulk carriers

On May 18, Xiamen ITG Holding Group announced a plan to issue additional A-shares to unspecified parties, raising 3.7 billion yuan of funds, of which 604 million yuan will be used for the construction of six 6,000 dwt dual fuel bunkering ships and 470 million yuan will be used for the purchase of two 82,000 dwt Kamsarmax bulk carriers.
 
Singapore Bunkering Ship Procurement Project
 
The implementation entity of this project is ITG Resources (Singapore) Pte. Ltd., a wholly-owned subsidiary of the company. The company will build six 6,000 dwt dual fuel bunkering ships, further expanding the company's bunkering industry chain in Singapore.
 
The total investment of this project is 87.5833 million US dollars. This time, it is planned to use the raised funds to invest 604.3246 million yuan.
 
Purchase two 82,000 dwt Kamsarmax bulk carriers
 
The implementation entity of this project is XIM 10 Shipping Limited, a wholly-owned subsidiary of the company. The project plans to purchase two 82,000 dwt Kamsarmax bulk carriers.
 
The total project investment is US$68.1166 million. Since 2023, with the overall improvement of the global epidemic situation and the positive economic recovery, the global shipping industry has resumed a steady development trend. The two 82,000 dwt Kamsarmax bulk carriers purchased by the company this time can increase the company's own capacity, help the company develop overseas markets, and thus improve its competitiveness in the international shipping market.
 
By Xinde Marine News Sarah Yu

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