Siba Ships Asia expands Bulk Fleet

SINGAPORE-based Siba Ships Asia is has taken delivery of its first two ships, the sister handymax bulk carriers MV Fomalhaut and MV Eltanin, ex Brave Imperial and Brave SV. The geared 46,700 dwt 1999-built vessels have both been reflagged to Singapore and will go on charter to a major charterer for a two year period. "These two modern ships boost our presence in the bulk market, which is especially strong in Asia for flexible handymaxes like these," explains Mauro Balzarini, managing director of Siba Ships. "We are best known as the world's largest operator of livestock vessels, but we are using our shipping expertise to diversify and currently own or operate seven panamax bulkers and four handymaxes, including the two new ships. We will continue to build a strategic presence in certain sectors of the bulk market, working with first class charterers."