Dry CargoGreater China

Pacific Basin buys secondhand bulker

Hong Kong-listed Pacific Basin has announced that it has recently purchased an eight year old 32,000dwt Japanese-built handysize log/bulk carrier.

The company said the deal is expected to generate a positive cash contribution to the business once the ship commences operation in its fleet in early 2016.

In the meantime, Pacific Basin estimates that it will register a net loss between $5m and $20m for the year of 2015, greatly narrowed from a net loss of $285m in 2014.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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