Pacific Basin Shipping has ordered four 40,000 dwt Handysize newbuilding vessels for about $119.2 million, with delivery expected in the first half of 2028. The ships will feature modern, fuel-efficient, open-hatch and logs-fitted designs, offering greater cargo flexibility and higher carrying capacity. The deal doubles the company’s current newbuilding program, which already includes four dual-fuel Ultramax vessels ordered in 2024. CEO Martin Fruergaard said the purchase supports long-term fleet renewal, efficiency, and earnings growth. Pacific Basin opted for single-fuel designs due to the lack of mature dual-fuel Handysize options and regulatory uncertainty around IMO decarbonization measures.
