Greater China

Pacific Basin acquires handymax

Hong Kong: Hong Kong-based Pacific Basin announced that an indirect wholly-owned subsidiary of the company, Columbia River Shipping, has inked a contract to purchase a secondhand handymax ship at the cost of $22m.

The company has acquired another three bulkers in October and May 2013 at a total price of around $60m.

The company is looking for opportunities to buy and charter both new and secondhand ships. The vessel can be purchased or built at attractive price will be beneficially employed within the group’s fleet for the long term, Pacific Basin said in a statement. [27/01/14]

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