San Miguel Corp, best known for producing one of Asia’s most popular beers, has bought a supramax bulker from Japan’s Fair Field Shipping, brokers reported on Monday.
The Manila-headquartered multi-faceted conglomerate was said to have acquired the 50,800-dwt Couga (built 2010) for $16m.
The company has long maintained a fleet through San Miguel Corp Shipping & Lighterage, which supports its various business operations scattered throughout the Philippine archipelago. Until last year, this comprised small general cargo ships, product tankers and LPG carriers deployed domestically.
In 2022, it expanded into deepsea bulk shipping with the acquisition of two panamaxes and a supramax. This will increase to four bulk carriers once the Couga joins the fleet.
Although San Miguel acquired its first bulkers only last year, it is no stranger to the dry bulk market. It is one of the largest importers of grain into the Philippines and is therefore a prolific charterer of dry bulk tonnage.
San Miguel Global Power — a lesser-known entity outside of the Philippines but one that claims to supply 20% of the electricity flowing through the national grid — is also a significant charterer of bulker tonnage to bring coal from Indonesia and elsewhere.
Sources familiar with San Miguel’s dry bulk activities said its directly owned bulkers are primarily being used to haul coal to its three power plants in Limay, Malita and Masinloc.
