Malaysia-based Jasa Merin has marched into the chemical tanker market through the acquisition of three vessels from subsidiaries of Boustead Heavy Industries Corp (BHIC) for US$5.7m per tanker.

The 7,000dwt tankers are Chulan 1 (built 2009), Chulan 2 and Chulan 3 (both built 2011).

The sales are part of BHIC's restructuring efforts and proceeds will go towards the Malaysian company's existing loans and borrowings, according to a filing.

The sale is expected to be concluded by Feb. 29, 2016.