As part of the Group’s integrated business model, we own a fleet of liquid and dry bulk carriers to support our shipping requirements. This fleet of vessels gives our operations greater flexibility and efficiency. Additional shipping requirements not served by this fleet are met by chartering-in third-party vessels.
In 2019, the total volume of liquid bulk and dry bulk shipped saw a marginal increase compared to the previous year. Despite challenging market conditions, the shipping unit also maintained a respectable profit for the year.
In line with the Group’s long-term strategy, we will continue to seek good opportunities to expand our fleet with more cost-effective vessels to support the needs of our logistics operations.
As at 31 December 2019, the Group owned and controlled tankers / dry bulk vessels with a total tonnage of about 2.5 million MT.