Wellard Ltd. (AU:WLD) has released an update.
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Wellard Ltd. has announced the acquisition of full ownership of the M/V Ocean Drover for US$5 million, avoiding costly litigation by settling with the liquidators of Ruchira Ships Limited. This transaction enables Wellard to initiate a strategic review focusing on the company’s long-term prospects and maximizing shareholder returns, especially as it transitions to operating as a single-ship business post-sale of another vessel. The M/V Ocean Drover is currently chartered and active on high-demand South America-Turkey routes until May 2025.
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