Taiwan-based Franbo Lines has ordered three new 16,500-dwt bulkers through an agreement signed with Japanese shipping company Exeno Yamamizu, according to Asian media reports.
Franbo Lines will order three bulkers at Honda Shipyard, Japan, chartering them to Exeno Yamamizu upon deliveries scheduled for August and December of 2015, and March of 2016. The price of each vessel is USD 20 million.
Franbo Lines officialy completed its IPO in Taipei last week, and the expansion of the fleet is seen as a way of reducing the operating costs.