Pacific Basin buys secondhand bulker

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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