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Pan Ocean back at New Times for more bulkers

South Korea’s Pan Ocean, in the midst of a significant fleet rejuvenation programme, has eschewed local shipbuilders and headed to China for its latest order.

Brokers are reporting Pan Ocean has tapped New Times Shipbuilding for two firm 63,500 dwt bulkers. The Tier III ships are set for delivery in 2020 and are costing $26.5m per vessel. The order comes with an option for one more.

Two months ago Pan Ocean contracted Hyundai Mipo for a pair of 1,800 teu boxships while in January the line was back at New Times in China, signing for six 325,000 dwt VLOCs.

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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