Dry bulk shipping company Pacific Basin Shipping Limited has inked a conditional agreement to acquire five dry bulk vessels worth USD 104.6 million availing of the attractive secondhand prices on the market.
The acquisitions relate to two 2014-built Supramaxes worth USD 34 million, a 2014-built Handysize worth USD 21.1 million, a 2016-built Supramax worth USD 23.5 million and one resale new building Supramax due for delivery in January 2018 worth USD 26 million.
As disclosed, the consideration will take the form of 216,9 million of new Pacific Basin shares to be issued to the ships’ sellers amounting to USD 46.1 million, USD 38 million of cash, conditionally raised through a placing of new Pacific Basin shares to institutional investors, and USD 20.5 million from the group’s cash.
The acquisition of the ships and the share placing are all conditional upon the Hong Kong Stock Exchange’s approval of the listing of the vessel consideration shares and the placing shares respectively. World Maritime News
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