Siem ups renewal effort with new pair

Oslo-listed reefer owner takes twin Shikoku newbuildings on long-term charters.

Siem Shipping has taken a further step in its fleet renewal effort by taking a pair of newbuildings on long-term charter.

Oslo-listed Siem says the ships have been contracted from a Japanese owner over a five-year period.

The 650,000-cbf ships will be built at Shikoku Dockyard for delivery in early 2017, a statement said.

It is not clear if Siem, which trades as Star Reefers, has chartered ships that were already on order or if the vessels have been ordered fresh against the charter.

Shikoku has four reefers in its existing orderbook, according to Clarksons, and has built a number of vessels for Siem in the past.

“The transaction is part of Siem Shipping's strategy to secure modern tonnage to maintain its position as a leading specialised reefer operator,” investors were told.

The owner has 10 vessels in its 28 strong fleet that are more than 20 years of age.