Ownership and chartering of vessels to third parties

In 2013, the Group ven­tured into the ves­sel own­er­ship and char­ter­ing busi­ness through Gold Hyacinth Devel­op­ment Pte Ltd (Gold Hyacinth), a 30 per cent asso­ciate com­pany held via its wholly owned sub­sidiary, Gold Topaz Pte Ltd. Gold Hyacinth has since pur­chased its first ves­sel, “Hai Jin”, a Crown 58 “Supra­max” Bulk Car­rier. The ves­sel has since been char­tered to a third party.