Franbo Lines confirms bulker acquisition

Franbo Lines confirms bulker acquisition

Taiwanese owner Franbo Lines has announced the acquisition of 2008-built 28,361 dwt handy bulker Idship Bulker from Danish company ID Shipping, confirming a report by Splash about the deal earlier this month.

The Japanese-built vessel was sold to Franbo for a price of $7.88m. MSI values the vessel at $8.9m while VesselsValue‘s valuation on the ship is $7.44m.

Franbo said the acquisition will expand its operational scale and increase the profitability of the company.

The acquisition will increase Franbo’s owned fleet to 12 vessels.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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