(Chelsea), through its subsidiaries and associate, is engaged in the shipping transport and logistics business. Through its wholly-owned subsidiaries, Chelsea Logistics is engaged in the shipping and logistics business, described in detail as follows:
Chelsea Shipping Corp., one of the top 5 petroleum tankers in the country, is engaged in the conveyance or carriage of petroleum products, goods, wares, and merchandise of every kind and description. Trans-Asia Shipping Lines Inc. is one of the major shipping lines mainly operating in the Visayas and Mindanao regions with more than four decades of experience in the shipping industry. The acquisition by the Company of Trans-Asia Shipping and its subsidiaries was completed in the last quarter of 2016. (TSI) provides cargo manpower services for Trans-Asia Shipping Lines, Inc. and handles the freight and cargo operations of Trans-Asia in Manila and Luzon. It was incorporated in September 2019. Starlite Ferries, Inc. carries passengers and rolling cargoes in the Southern Luzon and Visayas regions. It was acquired by Chelsea in November 2017. It has established itself as the main choice of shippers for being customer-focused and by providing safe, comfortable and environmentally responsible marine transport services in the Southern Luzon and Visayas regions. Chelsea Logistics acquired Starlite Ferries in November 2017. The SuperCat Fast Ferry Corporation is engaged in the movement of passengers through primed sea ferry service. It operates a fleet of high-speed catamarans, plying the routes of Batangas, Bacolod, Cebu, Iloilo, Ormoc, Calapan, and Tagbilaran. The acquisition of SuperCat was completed in October 2019. Worklink Services, Inc. offers nationwide logistics support (i.e. delivery of general cargo, trucking services, warehouse management, customs brokerage, manpower services, kinetic marketing services). (TSI) is engaged in the shipping agency business and maritime operations and services. It provides cargo manpower services for Trans-Asia Shipping Lines, Inc. It was registered with the SEC on 10 September 2019.
