PNSC is expected to begin scouting for two South Korean or Japanese-built aframaxes of up to 10 years old in the next few months, Karachi-based tanker broking sources believe.
The owner is negotiating with state-owned energy companies for long-term crude oil transport contracts that PNSC believes could offer stable employment for the additional vessels, sources say.
In January, PNSC put on hold its proposed aframax acquisition plans and instead took a mix of long-term and spot charters to meet its requirements.
In 2013, it put aside $42m to acquire two aframaxes by mid-2015 but the rise in secondhand aframax prices stalled that project.
It last bought an aframax in 2014, paying Samos Steamship $33m for the 105,000-dwt Shalamar (ex-Ambelos, built 2006).
According to VesselsValue, similar aframaxes now cost about $21m, down from $32m in January.
PNSC’s aframax plan was part of a $565m fleet-expansion programme announced in 2012, targeting the acquisition of 14 ships by 2016.
Source: http://www.tradewindsnews.com
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