Chelsea Logistics ventures into shipyard operations

Chelsea Logistics Holdings Corp. (CLC) has moved a step closer to venturing into shipyard operations after it recently received an essential set of equipment.

In a disclosure to the Philippine Stock Exchange, CLC said it received on Wednesday its first medium range (MR) tanker built in South Korea.

The 51,604 deadweight tonnage (DWT) tanker brings the company’s total DWT to 110,255.

CLC said the MR tanker is intended to support the logistics requirements of local oil companies in the importation of various petroleum products from the region.

It has multiple product segregation and can carry up to 53 million liters of various petroleum product types, the company said.

In addition, CLC received its first floating dock earlier this month.

The floating dock is 150 meters long and 31.6 meters wide, with a lifting capacity of 5,000 tons and will be used for the drydocking and repair of approximately up to 30 percent of the company’s existing fleet.

“We expect to realize considerable savings in repairs and maintenance costs of the group once the floating dock is put into operations. More importantly, the availability of our own facility for drydocking and repair is expected to contribute to the improvement of the overall fleet utilization of the group with more visibility on the completion of scheduled repairs and maintenance,” CLC president and CEO Chryss Damuy said.

“This is a step closer to the company’s plan to embark on shipyard operations,” Damuy added.

CLC is one of the fastest growing shipping and logistics company in the country. Formed in 2016, it was created to act as the holding company of the shipping and logistics arm business segments of the Udenna Group of Companies of Davao-based businessman Dennis Uy.

The company is engaged in shipping and logistics businesses with key segments divided into charter, passage, freight, tugboat services and logistics services.