Cyprus-based Pelagic Partners, a manager of Shipowning Funds, said its second compartment continues its expansion with the recent addition of another bulk carrier, bringing the total number of vessels under this compartment to seven and total acquired fleet of 18 since inception.
The 2015-built bulk carrier UBC Houston constructed in China by Hudong-Zhonghua Shipbuilding has a carrying capacity of 36,000 dwt. The ship is now registered under the Cyprus flag and is actively trading within the UBC Pool.
UBC Houston, the newest vessel in Pelagic Partners’ fleet, aligns with the overarching goal of increasing exposure in the bulker carrier sector to drive profits in the coming years, as the manager of shipowning funds said.
“The Pelagic Yield Fund remains committed to implementing the successful strategy employed by the first compartment, maintaining a combination of diversification in asset types, and employment with relatively low leverage,” Pelagic Partners added in its statement.
