Precious Shipping snaps up ultramax newbuild resales

Thailand’s Precious Shipping is pushing ahead with its fleet-renewal drive after agreeing to buy two ultramax newbuilding resales under construction in China. The Bangkok-listed owner said the vessels — being built at Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC) — will join the fleet through its wholly owned Singapore subsidiaries. The ships are understood to come from Singapore-based …

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