Pacific Basin adds four bulkers in deals worth $88.5m

Pacific Basin adds four bulkers in deals worth $88.5m

Hong Kong owner Pacific Basin continues to grow it fleet with the acquisition of four bulkers, two supramaxes and two handysizes, in a series of deals worth $88.5m.

The company has picked up a 2010 Tsuneishi-built supramax for $15.5m, a Tsuneishi-built resale newbuild for $28m, a 2015 Imabari-built handysize for $20.5m and an Imabari-build resale newbuild handysize for $24.5m.

Delivery of the secondhand vessels is scheduled for between the last quarter of 2018 and first quarter of 2019, while the newbuilds are scheduled for the third and fourth quarter of 2018. The secondhand handysize is already being operated by Pacific Basin via a long-term charter.

Pacific Basin is paying for the vessels by issuing 170.76m new shares and paying $44.2m cash to the unnamed sellers.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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