Samudera Shipping Line's (SGX:S56) subsidiary, Samudera Japan, and Imoto Corp., agreed to establish a joint venture company named Blue Ocean Shipping, to facilitate shipping activities in Japan, according to a Tuesday filing with the Singapore Exchange.
Shares of the shipping and cargo company were up nearly 4% in Wednesday trading.
Samudera Japan will have a 51% stake in the new company, which will acquire two container vessels from Imoto Lines as part of its initial fleet.
The new company will begin its operations in the first half of 2026, the filing said.
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