Dennis Uy’s Chelsea Logistics unveils PH’s biggest oil tanker

MANILA, Philippines – Chelsea Logistics Holdings Corp. (CLC) is set to operate the Philippines’ biggest sea vessel and a new roll-on, roll-off (Roro) passenger ship.

The listed company inaugurated on Friday, October 5, M/T Chelsea Providence and M/V Salve Regina at the Manila North Harbor Port.

M/T Chelsea Providence is a 183.3-meter long medium-range oil tanker that can carry up to 54 million liters of petroleum at any given time.

CLC President and Chief Executive Officer (CEO) Chryss Damuy said they invested around $35 million for the massive ship.

“With M/T Chelsea Providence, we hope to support local oil companies in the importation of various petroleum products and in ensuring a reliable supply of fuel for our growing economy,” Damuy said.

Meanwhile, M/V Salve Regina is a vessel worth $14 million that links Batangas and Caticlan to boost the tourism industry.

The ship can accommodate over 500 passengers and 41 vehicles.

“In our efforts to provide better customer experience, safe and reliable journey, and convenient travel, the Chelsea Group has been investing in younger vessels and presently brand-new ones,” CLC founder and chairman Dennis Uy said.

CLC has been in an expansion mode and has now a total of 88 ships.

They operate 16 tankers, 22 Roro ships, 11 cargo vessels and 14 tugboats through Chelsea Shipping, Starlite Ferries,Trans-Asia Shipping Lines, Inc. and Fortis Tugs. In addition, its investee 2GO Group, Inc. operates 8 Roro vessels, 5 cargo vessels, and 11 fast crafts.

CLC also acquired in March 2018 a floating dock named “Chelsea Exuberance,” which is programmed to keep its fleet in the best condition and thus optimize the deployment of the ships.

The unveiling of the new ships are just some of the big business moves of the Davao-based tycoon.

Uy, who is a campaign funder of President Rodrigo Duterte, earlier took over popular restaurant chain Conti’s.

Uy also has interests across several sectors, including petroleum, real estate, and property development. (READ: Dennis Uy to bring BGC to Pampanga)

There were also rumors that Uy was interested in the country’s search for the 3rd telecommunications player. – Rappler.com

 

Source: https://www.rappler.com/business/213728-chelsea-logistics-new-ships-biggest-oil-tanker

Author: Ralf Rivas (Rappler)

Published Date: October 7, 2018