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.