Aboitiz Transport buys new vessel from Japan

Aboitiz Transport System Corp. (ATS) announced that it bought a vessel from Japan to increase its passenger and cargo capacity.

In a disclosure to the Philippine Stock Exchange, the shipping company said it purchased a vessel from Nankai Ferry Co. Ltd. in Japan for $2.4 million. The 2,137 gross tonnage vessel arrived in the Philippines on October 6, 2007, and added 800 passenger capacity and 50 TEU cargo capacity to its current existing fleet, the company said. The company said the vessel purchase is still part of a greater strategy to build a new ATS.

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