Lomar announces acquisition of five Panamax ships

October 31, 2014

$75 million investment increases capacity of Lomar’s container fleet

Lomar has again added to its fleet with the purchase of five container ships. The new acquisitions will substantially increase the capacity of Lomar’s container fleet and include four 5,000 TEU Panamax ships built in Korea’s Hanjin and Hyundai shipyards in 2004 and 2005, for which Lomar paid a total of around $60 million. They are the HS Livingstone, HS Humboldt, Santa Patricia and Santa Priscilla, now renamed Vermont Trader, Maine Trader, Shanghai Trader and Sydney Trader respectively.

Lomar has also purchased and has taken delivery of the 2008 Chinese-built 3,500 TEU container ship, Georg Schulte which has been renamed the Cartagena Trader.

The company stated that this transaction is a demonstration of its strong belief in the underlying value of these classes of vessel. In addition to these acquisitions Lomar’s newbuildings programme is well underway and many of its new container ships and bulk carriers have now been delivered. With orders for over 20 new vessels, the company has asserted its commitment to adding modern, eco-friendly ships to the fleet and says it will consider further strategic opportunities as they arise.

For further information, please contact:

Charlie Hampton
Associate Partner Bell Pottinger Corporate & Brand
Tel: +44 (0)20 3772 2519
champton@bellpottinger.com

Gareth Zundel
Head of Communications Libra Group
Tel: +44 (0)20 7245 8700
gareth.zundel@libra.com