Polaris Shipping Adds New Capesize to Its Fleet

Illustration; Image Courtesy: Diana Shipping

South Korean shipowner Polaris Shipping has opted to expand its fleet as it reached an agreement to purchase a 209,000 dwt Capesize vessel TRF Charleston.

Under the deal signed on June 5 with US-based TRF Ship Management, Polaris Shipping will purchase the company’s bulk carrier newbuilding for USD 46.2 million.

The vessel fetched a price which is slightly over its current market value of USD 42.4 million, according to data provided by VesselsValue.

Featuring a length of 300 meters and a beam of 50 meters, the bulker was delivered from China Shipping Industry in January 2017.

The newbuilding will join Polaris Shipping’s fleet of 31 bulk carriers.

World Maritime News Staff

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