Dry CargoGreater ChinaOperations
Pacific Basin puts the brakes on acquisitions
Pacific Basin, Hong Kong’s largest shipowner by fleet number, is putting the brakes on fleet expansion plans.
In a release to the local stock exchange, the dry bulk owner said that due to the “unprecedented market uncertainty” the company is stopping seeking out secondhand acquisitions unless it finds “particularly compelling” opportunities.
The current Pacific Basin owned fleet numbers 117 ships, while in the first quarter it had an average of 205 ships on the water including those chartered in.
Yes, increasing speed to pollute more or…..!?