Precious Shipping Divests Supramax as Fleet Renewal Campaign Continues
Bangkok-listed dry bulk operator Precious Shipping has offloaded a 2011-built supramax for roughly $14.6 million while taking delivery of a Chinese newbuild ultramax.
Thailand-based dry bulk owner Precious Shipping has advanced its ongoing fleet modernization program through the disposal of an older supramax bulk carrier.
The Bangkok-listed company, headed by Khalid Hashim, agreed to sell the 56,920 dwt Kanchana Naree. The 2011-built vessel fetched a price of approximately $14.6 million as part of the transaction.
The divestment coincided directly with tonnage additions on the newbuilding front. On the same day that the supramax sale was finalized, the shipowner took formal delivery of a newly built ultramax vessel constructed at a Chinese shipyard.
The simultaneous fleet adjustments highlight Precious Shipping's strategy of shedding vintage geared bulk tonnage while integrating modern, larger bulkers into its operational trading fleet.
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