Pioneer Logistics to acquire a minority stake in Energy Drilling.

Pioneer Logistics, a maritime company with operations involving its diverse fleet of 30 shipping vessels, agreed to acquire a minority stake in Energy Drilling, a provider of self-erecting tender assist drilling rigs. Financial terms were not disclosed. “This capital injection by Pioneer allows us to double the size of fleet upon completion and will further strengthen our position in the market and open new possibilities for innovation and expansion. I believe this collaboration will create exciting opportunities to explore and grow for everyone in our organisation. As we move forward, we will remain dedicated to fostering a culture of teamwork, creativity and operational excellence. Our enlarged fleet will offer greater synergies of scale and allow us to provide unapparelled value to our customers," Marcus Chew, Energy Drill CEO.