Courage Marine increases the tonnage of its fleet by 54%
• Additional 213,420 deadweight tonnage added in the fleet
Hong Kong and Singapore, 24 May 2010 – Courage Marine Group Limited (“Courage
Marine” or the “Company”, together with its subsidiaries the “Group”), an established drybulk
shipping company that transports raw materials for Asia’s growing energy needs, has
successfully launched 2 used vessels which were procured by the Group previously.
The Group has taken delivery of these 2 newly bought used vessels last week. These 2
vessels have a combined tonnage of 213,420 deadweight tons and the vessels joined the fleet
for service in Asian region. The vessels will mainly deliver coal and bauxite in their
transportation. The Group currently has a total of 10 vessels with 3 handysize, 2 Handymax, 4
Panamax and 1 Capesize dry bulk carriers, and total tonnage of approximately 610,000
deadweight tons. The Group will continue to explore opportunities to increase its total number
of vessels and capacity in order to strengthen its position in the market.
“We have added 2 vessels in the year so far. Our future strategy is to continue to
explore opportunities for increasing our total capacity by keeping a constant lookout
for additional large size vessels.”
Courage Marine Group Limited
Courage Marine Group, founded in June 2001, is one of Asia's younger dry bulk shipping companies. It owns and
operates 10 bulk carriers, deployed around Greater China, Japan, Russia, Vietnam, Indonesia, Bangladesh, and
elsewhere in Asia. The vessels, totaling 611,528 deadweight tonnes, transport dry bulk commodities such as coal,
sea sand, gravel, cement, clinker, iron ore, minerals, and wood chips. On board to steer the group are five
industry veterans with extensive hands-on experience in dry bulk shipping in Asia, particularly in Greater China.
The company brings over 150 years of combined experience, each excelling in the expertise to complement the
others. Profitable since inception, its substantial presence in the region can capitalize on China and Asia-Pacific's
continued economic growth. The company is well positioned to take advantage of growing demand for dry bulk
marine transportation services, especially coal.
Courage Marine Group Limited press release
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