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
Terms on the bailout still being discussed