Atlantica will buy the vessels separately over a three-year period from 2013 to 2015.
At the same time, Pacific Basin and Atlantica have entered into bareboat charter agreements in which Atlantica will charter the six vessels until they deliver into Atlantica's ownership.
Charters of two of the six vessels are expected to start by 31 October 2012, charters of another two are expected to commence by 31 January 2013, while charters for the remaining two are to start after their current charters expire around the end of the first quarter of 2013.
“The board of Pacific Basin believes the deal to sell all of its six vessels under the agreement and to secure full employment for the vessels under the bareboat charterparties fully addresses the company's change in ro-ro strategy (...),” Pacific Basin said.
“The exit from the ro-ro sector will allow the company to direct more of its attention and resources to its core dry bulk and towage businesses,” it added.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
