Pacific Basin Shipping has signed agreements to buy four bulk carriers, which will be paid for with a combination of cash and shares.
The Hong Kong-based owner is buying two supramaxes and two handysizes from undisclosed sellers for $73.8m in total.
"The dry bulk market is recovering and the company sees upsides in second-hand values, and the board considers that these purchase prices are attractive," Pacific Basin said in a statement.
