Pacific Basin Shipping Acquires Eco-Friendly Vessels

Pacific Basin Shipping (HK:2343) has released an update.

Pacific Basin Shipping has announced the acquisition of two dual-fuel methanol vessels for $93 million as part of its strategy to achieve net-zero emissions by 2050. These new vessels, which can operate on both green methanol and conventional fuel oil, are expected to enhance the company’s competitive edge through cost savings and flexibility. The acquisitions will be funded by the company’s cash reserves or bank borrowings.

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