Board of Directors of PST Management Pte. Ltd. (“PSTM”), as Trustee-Manager of Pacific Shipping Trust (“PST”), announced that PST has taken delivery of its 180,000 DWT capesize bulk carrier, M/V Shagang Hongfa, from Hyundai Heavy Industries Co., Ltd., on 5 September 2011.
Hyundai Heavy’s Shipbuilding Division, the world’s number one shipbuilder, leads the shipbuilding industry with a 15% share of the market. The Hyundai shipyard stretches over four kilometers along the coast of Mipo Bay in Ulsan, Korea. The Shipbuilding Division is capable of building all types of ships to meet various demands from its clients.
Pacific Shipping Trust (PST) offers an exciting, alternative to conventional ship finance. Based in Singapore, Asia’s leading maritime hub, PST went public on May 26, 2006, becoming the first business trust listed on the Singapore Stock Exchange.
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Source: pacificshippingtrust, September 7, 2011