Dry CargoGreater China

Pacific Rim beefs up fleet

Low-profile Chinese bulker player Pacific Rim is behind one of the few modern transactions made this week in dry cargo S&P. A rare move as the small volume sales clearly illustrate the summer recess, with Greek owners leaving their investment decisions on hold.

Pacific Rim has been laying down one winning bid after another this year, adding a number of ultramaxes.

Sources tell Splash that Pacific Rim is the taker of the 63,000 dwt Dayang Confidence, a five-year-old Yangzhou Dayang Shipbuilding-built ship. A $30m price tag is attached to the deal. The seller of the ship is Bank of America.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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