Financial Times

Hayleys gets into ship owning, management
The conglomerate Hayleys Limited has entered the business of ship owning and management. Owning and managing ships is perhaps the most suited business to add on to Hayley's diverse portfolio of transportation businesses, run by its transportations subsidiary - Maritime Holdings Ltd, the company announced.

Hayleys recently floated Hayleylines Ltd through which it closed a purchase deal for the merchant vessel "Orient Stride". The deal was signed between Hayleylines and Balaji Shipping of Panama - a company affiliated to the Indian owned shipping line, Orient Express Lines.

Hayleys said it was proud to announce that the vessel, a 1152-TEU containership, is the largest ship to be owned by Sri Lankans today. The vessel will continue to ply between Gulf ports and Karachi. This will be the first in a series of purchases planned by Hayleylines Ltd, a joint venture between Hayleys (75 percent) and the holding company of Orient Express Lines (25 percent).

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