Restructured South Korean bulker player Pan Ocean is looking to expand its tanker division with a return to larger tonnage.
The Seoul-based company, which currently controls 13 handymax tankers, has diversified into the aframax sector with a chartered vessel.
A source close to Pan Ocean says the company has fixed the 107,000-dwt Songa Coral (built 2006) for two years at a rate reported to be $23,000 per day.
