Hong Kong: Pacific Basin has bagged a bargain Japanese-built handysize in the past quarter, it revealed in a trading update.
The Hong Kong bulker major’s acquisition is the first since October 2011, but is likely to be followed by a number of other purchases.
“We are actively looking at more ship buying opportunities to expand our core fleet at attractive prices,” the company said in a statement.
Pacific Basin added: “Protracted dry bulk market weakness and funding shortages continue to drive down vessel prices to levels that make acquisitions increasingly attractive to well-capitalised owners like us.” [19/10/12]
