Precious Shipping is buying a pair of handymaxes from STX Pan Ocean for $39m. The Bangkok-based shipowner said it had signed a memorandum of understanding to acquire the 2005-built, 34,000 dwt bulkers STX Pioneer and STX Queensland.
Precious is paying $19.5m each for the two vessels and said the acquisition was part of a strategy to rejuvenate its fleet with younger and larger vessels. Following the latest buy the company will have a fleet of 26 bulkers.