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Article: Pacific Basin expands newbuilding programme.
- Article from:
- Business Wire
- Article date:
- February 14, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HONG KONG--(BUSINESS WIRE)--Feb. 14, 1995--Pacific Basin Bulk Shipping (NASDAQ:PBBUF) announced Tuesday the further expansion of its handysize newbuilding programme with the placing of orders for two 27,000dwt vessels with Xingang Shipyard, China.
The contract price of each vessel is approximately US$19 million and completion is scheduled for late 1996 and early 1997. The Company has also entered into a 50/50 joint venture for the construction of a 27,000dwt handysize vessel at Hudong Shipyard, China, at a cost of US$18.5 million, for delivery in late 1996.
These latest orders bring the total number of handysize vessels being constructed for Pacific Basin in ...