ASL Marine Holdings has completed the acquisition of vessels from Gems Marine first announced on September 28, 2010.
The purchase price of the 21 tugs and barges is S$7.13 million (US$5.54 million) and is part of the group's ongoing strategy to enhance its fleet for its ship chartering operations.
The group has also completed the purchase of water-front land in Singapore adjacent to ASL Shipyard's current land to expand its shipbuilding and shiprepair capability and capacity.
