Pacific Basin Shipping is keeping an eye out for fleet expansion openings in a horrible dry cargo market that is experiencing a downturn longer than troughs seen in the 1970s and 1980s.
Hong Kong-listed Pacific Basin invested heavily in 2012 and early 2013 and has only bought one vessel during the past year.
But with asset prices pushed down, distress in the air and strong cash reserves, it plans to take advantage of a changing dry cargo landscape in 2016, executives say.
