Hong Kong-based dry bulk vessel owner and operator Pacific Basin Shipping has opted to make adjustments to its fleet expansion program, replacing its two previous vessel orders to secure six Handysize vessels and four conventional Ultramax newbuilds, with an option to acquire two dual-fuel Ultramax ships.
Illustration; Image courtesy: Pacific Basin
Pacific Basin has converted its 2024 acquisition of four 64,000 DWT dual-fuel Ultramax vessels to include four conventionally-fuelled 64,000 DWT Ultramax newbuilds for an aggregate consideration of $156.8 million ($39.2 million each) with expected delivery between 2028 and mid-2029.
As a result, the company entered into agreements with Nihon Shipyard Co. and Mitsui & Co. to terminate and replace the previous deals in light of renewed uncertainty
