Pacific Basin buys resale handysize for $23.9mPacific Basin buys resale handysize for $23.9m

The newbuilding handysize vessel is slated to be delivered to Pacific Basin between August 2016 to March 2017.

The latest vessel is the sixth unit that Pacific Basin has bought from Giant Line. The six vessels, all newly-built handysizes, are collectively purchased at a price of $139.65m.

Hong Kong-listed Pacific Basin said the 60-80% of the vessels purchase price will be funded by new long term bank borrowings.

The first of these resale vessels will be delivered to Pacific Basin in the second half of 2015.

“The company is looking for opportunities to buy and charter both new and secondhand ships. The board considers that the vessels can be purchased at attractive prices and that they will be beneficially employed within the group's fleet for the long term after they are delivered,” Pacific Basin said.