Bibby Line set for expansion

LIVERPOOL-based shipping line Bibby is investing in increasing its fleet again, with a new multi-million pound order for a deep-sea dry bulk carrier.

The shipping division of the £1bn-turnover Bibby Line Group has bought a new Supramax Bulk Carrier, capable of carrying loads of up to 57,000 deadweight tonnes.

It is being built by the Jinling shipyard in Nanjing, China and is scheduled for delivery in March 2012.

The vessel will be the firm’s second recent addition to its dry-bulk fleet – Bibby took delivery of the Shropshire, a 57,000 dwt sister vessel last year.

Bibby Line said it is planning further acquisitions of new buildings or second hand ships as it looks to significantly expand its capacity.

Jebb Kitchen, managing director of Bibby Line, said: “We made a lot of money selling our fleets of chemical and LPG tankers between 2005 and 2007 and are now ready to use our cash reserves to expand our fleet further.

“This new order marks the latest stage of our reinvestment programme and we are optimistic about the opportunities for growth in the international dry bulk market.”