A New Romance or Strategic Diversification

Just in time for St. Valentine’s Day, Pacific Basin Shipping Limited (“Pacific Basin”), one of the world’s leading dry bulk shipping companies operating principally in the Asia Pacific region with a particular focus on handysize bulk carriers, found a new interest. On Wednesday, Pacific Basin announced it had agreed to take over resale contracts for two roll-on roll-off (“Ro-Ro”) vessels to be built at A.P. Moller – Maersk’s Odense shipyard and has contracted for two more similar vessels direct from the yard. According to the announcement, the sellers are substantial owners of similar tonnage and it further indicates that a future cooperation between the two is likely.

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