Pacific Basin to buy 5 bulk carriers for more than USD 100 million

PacificBasinShipping
On 2 August 2017, the wholly-owned subsidiary of Pacific Basin, PB Vessels Holding Limited, entered into five separate ship contracts for the acquisition of the following five vessels:

(i) one secondhand supramax vessel from Seller A for a consideration of US$17.0 million;
(ii) one secondhand supramax vessel from Seller B for a consideration of US$17.0 million;
(iii) one secondhand handysize vessel from Seller C for a consideration of US$21.1 million;
(iv) one secondhand supramax vessel from Seller D for a consideration of US$23.5 million; and
(v) one resale newbuilding supramax vessel from Seller E for a consideration of US$26.0 million.
The aggregate consideration for the five vessels is US$104.6 million, of which US$46.1 million will be satisfied by the issue of Vessel Consideration Shares and US$58.5 million in cash. Estimated delivery of the secondhand vessels is between mid August 2017 and end December 2017, and of the resale newbuilding is in January 2018.

 

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