Taiwanese owner Franbo Lines has announced the acquisition of a 51,000 dwt bulk carrier from Tai Shing Maritime, an affiliate company of Taiwan Navigation.
The company will pay $8.55m for the vessel, which is believed to be the 2002-built supramax bulker Tai Harvest recently sold by Taiwan Navigation.
Franbo Lines said the vessel acquisition would increase the profitability of the company.
Delivery of the vessel is scheduled before the end of the year and the vessel will be the largest in the Franbo fleet.
Franbo Lines currently operates a fleet of 11 bulk carriers, most of which are below 20,000 dwt.