Precious Shipping (SET:PSL) has signed four shipbuilding contracts for 64,500 deadweight tonnage Ultramax bulk carriers with Taizhou Sanfu Ship Engineering for $141.8 million, according to a Wednesday Thailand bourse filing.
The acquisition is part of the shipping company's fleet rejuvenation strategy to move towards fuel-efficient vessels with increased deadweight capacity.
Following the delivery, the company will have a fleet of 47 vessels.
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