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Wilmar shipping move

This article was originally published in The Public Ledger

PALM giantWilmar International's subsidiary Wilmar Ship Holdings has paid $9.6m in cash for a 60% stake in Singapore ship chartering firm Raffles Shipping, which manages 22 vessels with a combined tonnage of 800,000 deadweight tonnes. Raffles will manage and operate Wilmar's fleet of liquid oil tankers, as well as provide support services like bunkering, technical management and freight management.

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