Israel Shipyards buys a cargo ship for $ 11 million – the capital market

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Israel Shipyards
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Reports that its subsidiary has signed an agreement to purchase a cargo ship for about $ 10.85 million. The ship, built in 2011, has a carrying capacity of 37,500 tons. The transaction is expected to be completed during the second quarter of 2021.

According to the company announcement, the ship is intended to join its fleet of commercial ships when after its purchase it will have 12 ships according to the following division: 3 cement ships with a transport capacity of about 12,000-15,000 thousand tons which are used for importing cement, 8 ships with a transport capacity of about 5,000-8,000 tons, and the ship purchased with a carrying capacity of about 37,000 tons which are used to transport aggregates and general cargo.

Zvika Schechterman, CEO of Israel Shipbuilding Industries: “We are pleased to announce the expansion of our fleet. The current vessel, which will be received by the company in the coming months, has significant transport capacity and will enable the company to offer its customers a wider range of solutions. This acquisition is part of the company’s strategy “Its activity in operating ships in international markets and even the possibility of transporting cargo to Israel, as a complementary and synergistic service to the group’s other activities. This transaction strengthens the status of Israel Shipyards as a leading player in the maritime field.”