Greater China

More handymaxes for Pacific Basin

Hong Kong: Pacific Basin has exercised an option to acquire another resale handymax from a company thought to be Triton.

The Hong Kong owner is paying $26.5m for the ship that will deliver from a Japanese yard in 2016. Pacific Basin also mentioned in a release yesterday that it expects to tie up another resale deal next month. Pacific Basin is in the midst of a dramatic fleet build up.

At its interims earlier this month Hong Kong’s largest owner noted acquisition commitments to date will expand its owned fleet on the water from 37 dry bulk ships at the start of the year to 72 by year end. Including newbuildings Pacific Basin now operates a 296-ship strong fleet.

Mats Berglund, the ceo, said 2013 is Pacific Basin’s year of “counter-cyclical investment for growth”. [30/08/13]



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