Tank Containers
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New funds for Peacock
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MLGTC will intensify its agency business on NCC ’ s behalf , starting in Thailand and other Asian countries
MOL , Nichicon in tank logistics venture
new tank container logistics operator is set to take root in
A Japan . Shipping and logistics conglomerate Mitsui OSK Lines ( MOL ) is forming a joint venture with Nippon Concept Corporation ( NCC ) and MOL Logistics ( MLG ) called MOL Logistics ( Tank Containers ) ( MLGTC ). The JV will deepen the MOL group ’ s business alliance with NCC and expand and strengthen its business partnership related to tank container transport globally , starting in Asia , while serving as the headquarters of NCC ’ s overseas agency business . NCC , whose tanks are labelled Nichicon , is an international tank logistics company . In 2018 , it concluded a capital and business alliance agreement with MOL , under which MOL acquired 15 percent of NCC ’ s shares , and began co-operative measures such as sharing
MOL Group is one of the world ’ s biggest ocean carriers and mutual use of each company ’ s overseas offices and business networks . According to the latest ITCO Global Tank Container Fleet Survey , Nichicon had a fleet of 9,000 units at January 2021 . MLG , which serves as a core of the MOL Group ’ logistics business , already handles NCC ’ s overseas agency business in Mexico , Myanmar , and Vietnam . Establishment of MLGTC will extend areas of the business alliance and accelerate collaboration in business and cargo transport using tank containers . Specifically , MLG will intensify its agency business on NCC ’ s behalf , starting in Thailand and other major Asian countries showing significant demand growth for chemical products , such as China and India . In addition , by exploiting MOL and MLG ’ s networking capabilities , MLGTC will maximise synergies from NCC ’ s know-how and track record in door-to-door international multimodal transport for liquid cargoes and various types of gas . In the future , the three companies will expand the business alliance , and work together as one to offer transport of chemical products on a global scale . MLGTC will be headquartered in Tokyo MOL Group is one of the world ’ s biggest ocean carriers operating dry bulk ships , LNG carriers , car carriers , oil tankers , and container ships . In 2017 the container shipping division was rolled into Ocean Network Express Holdings ( ONE ), a joint venture company between MOL , Nippon Yusen Kaisha , and K Line .
One of the benefits of being part of a private equity group has been demonstrated by Peacock Container Group . Now owned by Arcus Infrastructure Partners , Peacock has signed a US $ 200 million funding agreement , refinancing both its existing senior debt facilities and the interim financing that was put in place for the acquisition of the assets of GEM Containers in May 2021 . The multi-currency ( US $ and Euro ) facility has a combination of senior term loans , underpinning the refinancing of Peacock ’ s current fleet , as well as revolving credit facilities providing flexibility to support Peacock ’ s growth plans over the coming years . The ISO tank container leasing sector has shown resilience and stability during the COVID-19 pandemic period and continues to demonstrate strong positive growth prospects , said Arcus . The new senior debt raising also strengthens Peacock ’ s capital structure through the introduction of two new lending banks to the tank lessor , reduces total financing costs , and also includes ‘ accordion ’ features to increase funding when necessary . The bookrunners and mandated lead arrangers were ABN AMRO Bank and ING Bank , Singapore Branch , with TIAA FSB participating as lender .
www . peacockcontainer . com www . arcusip . com www . mol . co . jp
Higher shipments
boost Stolt results
Stolt Tank Containers ( STC ) posted second-quarter revenue of US $ 157.7 million , up from $ 138.9 million in the first quarter . Transport revenue increased by a further 17.9 percent on top of solid increases in the two prior quarters , driven by an 11.1 percent increase in shipments and higher freight charges to customers due to rising ocean freight costs . Demurrage revenue also improved by 7.5 percent as operational delays were passed through to customers and customers took slightly longer to return tanks . Utilisation increased to 72.2 percent from 69.7 percent as shipments reached record levels . STC reported a second-quarter operating profit of $ 12.5 million , up from $ 8 million in the first quarter . The rapid increase in ocean freight and trucking expenses has continued , but the cost increases have been passed onto customers in a more timely manner , the operator said , resulting in improved transport margins per shipment . Total tank rental costs increased as STC leased in additional tanks to meet growing demand , operational delays driven by port congestion , carrier delays and capacity management by ocean carriers . Costs related to delays are generally charged to customers as demurrage . In Singapore , STC has expanded its tank storage space with an additional 5,000 sqm , which offers storage capacity for approximately 300 laden tank containers . The Singapore terminal services chemical tanks , food-grade units , gas tanks and other . The depot has been active since June 1987 and offers a utilisation area of 20,000 sqm .
www . stolt-nielsen . com
The multi-currency facility underpins the refinancing of Peacock ’ s current fleet
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Stolt ’ s utilisation increased to 72.2 percent from 69.7 percent
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