Precious Shipping has spent $16.6m to acquire a secondhand 30,193 dwt bulk carrier in a move to rejuvenate its fleet.
The 2008-built Good Pacific is expected to be delivered to Precious between 15 March to 2 May, according to a company statement.
Precious added that the seller is a company incorporated in India which is not related to them. The acquisition will be funded by internal cash reserves and/or debt financing from credit facilities presently available to the company.
“After the acquisition of this vessel, the company's fleet will consist of 29 vessels with an aggregate capacity of about 828,526 dwt,” Precious said.