Pacific Basin looking at vessels in rival fleets

Pacific Basin is among few bulk carriers to navigate the crisis without major damage. New capital will pad the carrier and enable exploitation of the historically low prices on used vessels. "Buy a five year old for God's sake instead of a new one," says CEO Mats Berglund to ShippingWatch.

BY NIKLAS KRIGSLUND

Carriers with cash to burn have a golden opportunity to renew their fleet.

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Pacific Basin cuts losses in dry bulk
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Analysts: Worst months for dry bulk ever
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