Precious Pens Four BCs

Precious Shipping, in accordance with the company’s strategy to rejuvenate its fleet, has entered into newbuilding contracts for the construction of four bulk carriers.

The company ordered two 38,500 DWT bulk carriers to be built at China Shipbuilding & Offshore International Co., Ltd. (CSOC) and Shanhaiguan Shipbuilding Industry Co., Ltd.

The bulkers, estimated at $22.3 million each, are scheduled for delivery in 2015.

Precious also signed the order for two 64,000 DWT bulk carriers with Sainty Marine Corporation Ltd. The estimated contract price for the two panamax vessels is $54.8 million.

Delivery date for 64,000 DWT bulkers is set for June 2014.

After the acquisition and delivery of these vessels and the delivery of six more vessels (ordered earlier but not yet delivered) the company’s fleet will consist of 48 vessels with an aggregate capacity of about 1,636,583 DWT.

[mappress]
SBT Staff, November 26, 2013