Fujian Highton picks up MPP brace from Braren Roerd

Fujian Highton Development, a prominent Chinese bulker owner, is making significant strides in its fleet expansion by acquiring two multipurpose general cargo vessels from the secondhand market. The company announced that its subsidiaries have finalized deals with German owner Braren Roerd for the 2011-built vessels, Pacific Hero and Pacific Honour, each valued at $16 million, despite market valuations suggesting they are worth closer to $21 million. This acquisition is part of Fujian Highton’s broader strategy to enhance its shipping capabilities.

Strategic Growth and Recent Purchases

Founded in 2009, Fujian Highton Development has rapidly evolved from focusing on supramax vessels to controlling a diverse fleet that includes larger bulker classes, such as capesize tonnage. By the end of 2024, the company is projected to manage over 60 bulkers, with 46 of them fully owned, in addition to three tankers. Earlier this year, the company set aside $65 million for new acquisitions, signaling its commitment to fleet growth.

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This latest purchase adds to an already aggressive acquisition strategy, with more than ten vessels acquired in 2023 alone. Earlier transactions included the acquisition of four bulkers from ArcelorMittal Shipping for nearly $60 million and three kamsarmaxes from CDB Financial Leasing. Recently, Fujian Highton also took delivery of the 2012-built supramax Epic Trader, which is now operating under the name Xin Hai Tong 65.

The addition of the 28,400 dwt multipurpose vessels highlights the company’s intent to diversify its fleet further. Earlier this year, Fujian Highton was also linked to the purchase of another multipurpose vessel, the 2009-built Emma, which has since been renamed Xin Hai Tong 501 after being acquired from SAL Heavy Lift. These strategic moves underscore Fujian Highton’s ambition to strengthen its position in the competitive shipping market.