Thomas M. Kane, President of SSY Capital LLC, announced the completion of a $95m facility for the acquisition of five handysize bulkers on behalf of their client Pacific King Shipping Holding Ltd. Pacific King of Singapore is undergoing a fleet modernization program to keep pace with the growing market demand. Founded in 1998, Pacific King Shipping is primarily engaged in ship owning and chartering as one of the leading providers of log transportation in Southeast Asia, the People’s Republic of China and India, as well as other cargoes globally. The addition of these five ships brings the fleet total to 28.