Singapore Shipping Corporation (SSC) has purchased a new pure car truck carrier at a price of $80m.

The vessel is expected to be deployed on a long term charter to a “blue-chip shipping major” upon delivery, according to Singapore-listed SSC.

The name of the shipbuilder was not disclosed.

SSC will fund the investment with internal resources and bank borrowings.

The company currently owns three car carriers with capacity ranging from 5,540-7,200 ceu.