Swire Shipping has signed an agreement to acquire Westwood Shipping Lines from
J-WeSco, a subsidiary of The Sumitomo Warehouse Co. on 28 April 2022 for $100m
upon closing, plus an additional payment of up to $45m subject to the
finalisation of Westwood's financial results for fiscal year 2022. The
acquisition is subject to regulatory approval and other closing conditions and
is expected to be concluded by June 2022.
Swire will also acquire 4 multipurpose open hatch containerships of 2,048
teu/4