Pacific Basin buys JNS handysize newbuild quartet

Bulker owner and operator Pacific Basin has entered into ship purchase contracts with Jiangmen Nanyang Ship Engineering Co., Ltd. (JNS) to buy four 40,000-dwt handysize newbuilding vessels for an aggregate consideration of around $119.2m. 

The handysize newbuildings, expected to be delivered in the first half of 2028, will feature fuel-efficient, open hatch and logs-fitted design.

These acquisitions double the number of vessels in Pacific Basin’s newbuilding programme which includes four newbuilding ultramax vessels of dual-fuel design that the company announced in November 2024.

In accordance with the company’s chief, the agreed price is considered “attractive”, and the timing is favorable to buy new handysizes of modern design, replacing some of the recently sold vessels.

Martin Fruergaard, chief executive officer of