AsiaDry CargoGreater China

Pacific Basin adds another Japanese handy

Hong Kong-listed handy specialist Pacific Basin continues to show trust in the market. Last month Pacific Basin took its fleet to 100 ships, now it’s adding more.

Brokers tell Splash says the Mats Berglund-led company has added the 2011, Japanese-built Global Peace for $10m from one of this year’s most active sellers, United Ocean Group. Pacific Basin took another United Ocean ship, Ocean Harmony, a few months ago for $9.6m. Both are bank driven sales as the Tokyo firm sought court protection 17 months ago.

In its first quarter trading update Pacific Basin stated a belief that the worst of the market downturn is over.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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