Tomini Shipping has expanded its fleet to 17 vessels with the acquisition of a modern kamsarmax bulker.
The United Arab Emirates-based company said it has bought the 81,000-dwt Dansas (built 2015) and renamed it Tomini Bravery.
No financial terms were disclosed, but VesselsValue estimated that the Jinling Shipyard-built vessel is worth $28.9m.
"Tomini is confident in the long-term fundamentals for the dry bulk market and [is] committed to growing a diverse fleet to meet our clients' needs," said chief executive Numair Shaikh.
This is Tomini’s first acquisition for 2021. Last year, the company, which is listed on Norway’s over-the-counter market, bought six ships from the secondhand market.
In September this year, it took delivery of the second of two kamsarmax newbuildings — the 81,100-dwt Tomini Royalty — from China's Taizhou Kouan Shipbuilding.
Tomini had a shake-up in its top ranks this year with the departure of chief executive Nitin Mehta after eight years with the company.
He switched newbuildings for demolition with a move to fellow Dubai-based company GMS as its chief financial and strategy officer.
In May, Tomini revealed a loss for 2020 as finance expenses increased for its expanding bulker fleet.
Its net deficit was $3.1m, against a profit of $14m in 2019, when it sold four vessels for a gain of $14.9m.
