Hong Kong’s largest shipowner by fleet size has offloaded a middle-aged supramax. Brokers report Greece’s Vulcanus Technical has paid $4.9m for the 2004-built Pacific Sea, a 53,589 dwt ship built at China’s Xiamen Shipbuilding.
Pacific Basin is one of the world’s largest owners and operators of handysize and supramax bulkers and currently operates more than 200 dry bulk ships.
Last year Pacific Basin said it was building a war chest to buy secondhand handy and supramax ships which are “at historically depressed prices”. These new acquisitions, Pacific Basin maintained, “would be able to generate an earnings premium compared to market indices”.