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<strong>Star</strong> <strong>Reefers</strong> Storyline<br />
A Year of Intensity<br />
• Swan Reefer (SRA) initiates refinancing talks with Siem<br />
Industries (SI) and appoints new management 12-00<br />
• Creditors write-off USD 55 mill. SI and others inject<br />
new equity of USD 44 mill. 01-01<br />
• SRA delisted - Swan Reefer <strong>Inc</strong>. (Cayman) listed on OSE 04-01<br />
• Voluntary, compulsory and mandatory offers completed 06-01<br />
• SRA acquires <strong>Star</strong> <strong>Reefers</strong> London: Commercial operation<br />
and 6 owned + 18 chartered vessels for $35 mill. 07-01<br />
• SRA changes name to <strong>Star</strong> <strong>Reefers</strong> <strong>Inc</strong>.(SRI) 08-01<br />
• SRI+NYK (50/50) form pool company NYK STAR <strong>Reefers</strong> 08-01<br />
• NYK STAR controls 68 ships or a 17% market share 09-01<br />
• SRI sells two older (1979) vessels 09-01<br />
• SRI restructures long-term T/C with Mitsui & Co Ltd. 02-02<br />
• Liner service established: New Zealand - Continent 02-02<br />
From a fragile tonnage supplier to a dominant reefer operator
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