Siem Shipping Orders PCTC Duo

Oslo-listed Siem Shipping Inc has placed an order for two car carriers with Croatian shipbuilder Uljanik.

Under the deal, Uljanik will build two 7000 ceu pure car and truck carriers (PCTCs) intended for delivery in the second half of 2017.

The price is in the process of being finalised, but will be in the region of USD 55 million, the company said.

Once delivered, the car carriers will be chartered out to Siem Car Carriers for a period of five years.

The move comes as the company pushes for diversification of its activities to include a broader range of shipping opportunities, one of those areas being the PCTC segment.

Since 2012, the company has obtained operational experience in the deep sea transportation of cars by providing chartering, operational and technical management services to Siem Car Carriers.