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Franbo Lines awaits three bulker newbuildings

Franbo Lines awaits three bulker newbuildings
Kaohsiung-based shipowner Franbo Lines Corp will take delivery of three new vessels over the next one-and-a-half years as it continues with its fleet expansion plan, reports said.

The Taipei-listed company is waiting to take delivery of three new 16,500 dwt bulkers respectively in August and December this year, and in May 2016, according to local media. The newbuildings were ordered in the second half of 2014.

Franbo Lines currently operates a fleet of nine ships, including four on long term charter, three on short term charter and two owned.

The shipowner had said earlier that it aims to enlarge its fleet by one or two per year, raising the total number of vessels to 15 by 2017.

The company completed its IPO on the Taiwan Stock Exchange in October last year.