Dry CargoGreater China

Pacific Basin splashes out $73.84m on four bulkers

Hong Kong dry bulk shipowner Pacific Basin has added two supramaxes and two handysizes to its fleet, sealing four separate deals worth a total of $73.84m.

The four unidentified vessels are all constructed in Japan, and made up of two 2015-built (Shikoku) handysizes, a 2015-built (Tsuneishi) supramax and a 2012-built (Imabari) supramax.

Three of the vessels are currently on time charter to Pacific Basin, who is paying a mixture of cash and shares for each transaction. A total of $49,472,800 will be paid out in cash, with shares issued to settle the remaining $24,367,200.

Pacific Basin, which has a fleet of 115 bulkers at the moment, said the deal is in line with its strategic plan of acquiring quality secondhand Japanese-built ships.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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