On 2 August 2017, Pacific Basin Shipping’s wholly-owned subsidiary, PB Vessels Holding Limited, has entered into five separate ship contracts for the acquisition of the following five vessels: (i) one secondhand supramax vessel from seller A for a consideration of US$17.0 million; (ii) one secondhand supramax vessel from seller B for a consideration of US$17.0 million; (iii) one secondhand handysize vessel from seller C for a consideration of US$21.1 million; (iv) one secondhand supramax vessel from seller D for a consideration of US$23.5 million; and (v) one resale newbuilding supramax vessel from seller E for a consideration of US$26.0 million.
The aggregate consideration for the five vessels is US$104.6 million, of which US$46.1 million will be satisfied by the issue of Vessel Consideration Shares and US$58.5 million in cash.
Estimated delivery of the secondhand vessels is between mid August 2017 and end December 2017, and of the resale newbuilding is in January 2018.