- Pacific Basin has ordered four 40,000 dwt Handysize newbuildings for about $119 million
- Deliveries are scheduled for the first half of 2028
- The move focuses on fleet renewal, flexibility, and fuel efficiency rather than dual-fuel risk
Pacific Basin has signed shipbuilding contracts for four 40,000 dwt Handysize vessels, adding fresh capacity to its owned fleet. The newbuildings will be delivered in the first half of 2028 and are designed with improved cargo flexibility, higher carrying capacity, and modern fuel-efficient specifications compared with older Handysize designs.
These orders double the company’s active newbuilding programme, following earlier commitments for four Ultramax vessels announced last year.
Conventional Design Chosen Over Dual-Fuel
The company opted for conventionally powered, single-fuel vessels, citing the lack of proven dual-fuel Handysize designs and ongoing uncertainty around future global fuel regulations. The decision also reflects the delay in the International Maritime Organization’s planned Net Zero framework, which has made fuel-technology choices more complex for smaller vessel classes.
By avoiding untested propulsion systems, Pacific Basin aims to balance regulatory readiness with operational reliability.
Focus on Earnings Flexibility and Long-Term Value
Pacific Basin said the new vessels will replace older, smaller ships recently sold, improving overall fleet efficiency. The design allows for a wider range of cargoes, supporting more triangulated trading patterns and stronger TCE performance.
Management described the pricing as attractive for 2028 delivery slots and highlighted familiarity with the shipyard, reinforcing confidence in construction quality and delivery execution.
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Source – Pacific Basin
