PCL takes second MR of the year

Singapore outfit PCL, controlled by tycoon Robert Kuok, continues to buy. This week brokers tell Splash that the active outfit has added its fourth ship of the year, laying $27m on the table for the five-year-old, 52000 dwt Great Manta, a price in line with MSI’s $26.2m fair market value for the Betonix-owned ship.

The purchase is PCL’s second MR purchase this year. In February the rapidly growing tanker player added the 51,300 dwt Fidias from Greece’s Ionia Management for a reported price of $16.7m.

In between the two sales the company has raised money for two more large LPG carriers.

PCL, which is best known as a dry bulk operator, has not bought any bulkers for the past three years, focusing instead on wet tonnage. It has actually trimmed its dry fleet, selling one elderly post-panamax to Navios Maritime Partners earlier this year.

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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