Hong Kong-based shipping operators Maritime Pacific (Hong Kong) and OSL Holdings Limited have merged. The newly formed company will trade under the name Asia Maritime Pacific (AMP) and will boast a fleet of over 20 "modern drybulk vessels" operating globally, with a particular focus on Asia, Australasia, and China-West African routes.
The newly merged entity has over 60 employees based in Hong Kong, Shanghai, Beijing, Tokyo, London, Luanda and through Rhumb Maritime in Melbourne.
COO Rita Jia said the merger affords "exciting opportunities from a business perspective."
"We are excited about the opportunities this will bring to both the new company AMP, and to our customers, many of whom have been customers since the beginning of the operations of both legacy companies. Our goal is for AMP to be a 'one-stop' shop for our customers' dry bulk shipping needs."
The merger brings the benefit of economies of scale, while at the same time allowing the new Asia Maritime Pacific to offer its customers a larger fleet with more diversified shipping solutions.
Mark Young, CEO and shareholder of the new Asia Maritime Pacific, said: "The merger is really a perfect marriage for these two companies, where the combined business will be greater than the sum of its parts.
"The newly merged Asia Maritime Pacific will have the platform from which to build a significant Asian presence in the handysize and minibulker and multipurpose sectors," Young added.
Source: Manila Bulletin