News / Alibaba's Transfar Shipping cuts reliance on charters with vessel acquisitions

A Daisen. Credit VesselFinder.

In an effort to improve the company’s performance and reduce its reliance on chartered ships, Alibaba-backed Transfar Shipping has acquired two 1,800 TEU newbuilding resales and a similar in-service vessel from Chinese liner operator StarOcean Marine for a total of $75m.

VesselsValue shows that the two newbuildings are among eight sister vessels that StarOcean ordered at Yangzijiang Shipbuilding in China in January 2021, for $23m each. The ships are all expected to be delivered by July 2023, with deliveries beginning this ...