Pelagic Partners’ fleet expands with the acquisition of another Handysize Bulk Carrier, ex-MV Olivian Confidence, which falls under the investment strategy of the second compartment, Pelagic Yield Fund. UBC Halifax was built in 2013 at Shimanami Shipyard in Japan and has a capacity of 38,000 dwt. The vessel has been reflagged to Cyprus and will trade in the UBC Pool.
The Fund continues with the Handysize Bulk Carrier purchase program as the management team sees a promising entry point given the market fundamentals, especially on the supply side and the trade outlook throughout the second half of 2023 and beyond.
Choosing the right asset that will fit within the trading pattern of our Pool Partners is key in order to maximise and outperform the general market. We have increased our collaboration with United Bulk Carrier as they have proven to be a reliable and professional partner with strong cargo coverage that reduces volatility compared to the spot market.
UBC Halifax is currently in Szczecin Port in Poland and will resume commercial operations on the 27th of April.