Multimillion-dollar fleet enlargement on Pacific Basin’s agenda with four vessels being built

Hong Kong-based dry bulk vessel owner and operator Pacific Basin Shipping has decided to expand its fleet by buying four Handysize newbuilding vessels for an aggregate consideration of approximately $119.2 million.

Thanks to ship purchase contracts with Jiangmen Nanyang Ship Engineering (JNS), Pacific Basin will acquire four 40,000 dwt Handysize newbuilding vessels, which are expected to be delivered in the first half of 2028.

The ships are designed to feature the latest fuel-efficient, open-hatch and logs-fitted design with greater cargo carrying capacity and flexibility than earlier standard Handysize designs.

The Asian vessel owner claims that these acquisitions double the number of ships in its newbuilding program, which includes four newbuilding Ultramax vessels of dual-fuel design that the company announced in November 2024.

Martin Fruergaard, CEO of Pacific Basin, commented: “One of our strategic priorities is the disciplined renewal and growth of our fleet to enhance scale and efficiency so that we can continue to