Taiwanese bulker owner Franbo Lines is looking to buy more vessels after signing a memorandum of understanding for a handymax ship, according to a company spokesman.
In a filing to the Taiwan Stock Exchange, the company said it would pay $4.8m to acquire a 42,584-dwt dwt bulker from Monica Shipping.
“This is to increase our fleet size and profitability,” said the filing, adding that the vessel is due to be delivered in April.
