Hong Kong: Pacific Basin is readying to order more newbuilds. The Hong Kong-listed entity has already bought nine bulkers this year, and still believes prices are attractive to buy more.
In its third quarter trading update, the company said last week: "Our current acquisition focus is on newbuildings in view of the negligible price differential between newbuildings and modern second-hand vessels, and due to the opportunity this affords us to renew our fleet with improved ship designs." [01/11/10]
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