Well-known Chinese and Norwegian shipping names have quietly teamed up to form a new equity player to acquire shipping and offshore assets.
Hong Kong-based SinoEnergy Capital Management has already spent $300m to purchase two drilling rigs from a troubled stocklisted company and TradeWinds understands it has ambitions to acquire distressed assets in shipping and offshore.
Although the initial Sino-Energy rig deal was agreed several months ago, observers say the company’s full operational debut is much more recent.
