Pacific Basin offloads supramax

Pacific Basin offloads supramax

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”.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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