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Precious sells off two elderly vessels

Precious sells off two elderly vessels

Bangkok: Precious Shipping has continued to sell off elderly vessels in its fleet. The Thai-listed shipowner has sold the 1984-built, 33,024 dwt Nipha Naree and the 1986-built 25,309 dwt Neera Naree for $6m and $6.25m respectively in recent days. The sale of the two vessels brings Precious' fleet down to 21 vessels. The sales form part of a fleet renewal programme and the company has so far acquired two newer, secondhand vessels. Precious Shipping plans to add a further 23 vessels to its fleet, and has secured $500m in credit lines for this purpose. [11/02/10]

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