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image: Pacific Basin

Pacific Basin Eyes More Second-Hand Ships

October 12, 2017

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Following the purchase of five dry bulkers in August, Pacific Basin Shipping Limited is exploring more acquisitions of second-hand tonnage lured by attractive prices.

“We will continue to look at attractive secondhand ship acquisition opportunities if they can generate a reasonable payback at prevailing asset prices and freight earnings,” Mok Kit Ting, Kitty, the company’s Secretary, said in a third-quarter trading update.

Three of the five recently bought second-hand vessels have been delivered into Pacific Basin’s fleet during the quarter, with one more to follow later this year and another in the first quarter of 2018.

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