Rising rates for panamax vessels have prompted companies to look at buying more smaller vessels. Following are some acquisitions of panamax, handymax and handysize vessels so far this year:
- Genco Shipping & Trading Ltd says to buy 16 supramax vessels from Setaf SAS, a unit of Bourbon SA, for about $545 million.
- Genco to buy 5 handysize vessels from Metrostar companies for about $166.3 million. and Genco-managed Baltic Trading Ltd to buy 3 35,000-deadweight-ton vessels for about $99.8 million from Metrostar companies.
- Paragon Shipping in shipbuilding contracts with a Chinese shipyard for 2 kamsarmax and 2 handysize drybulk vessels.
- Paragon to buy a panamax bulk carrier for $41 million.