Taylor Maritime Investments is expanding its fleet with the purchase of two Japanese-built geared handysize bulkers for $26.45m.  

The two vessels are in addition to the 23 secondhand handysize and supramax bulk carriers the Edward Buttery-led firm will acquire using the proceeds raised in an oversubscribed issuing on the London Stock Exchange.

Both vessels are being acquired at below 80% of depreciated replacement cost, the Guernsey-incorporated firm said on Wednesday.

Delivery of the two ships is expected in mid-July and early-November 2021. Once all acquisitions are completed, Taylor Maritime Investments’ fleet will comprise 25 vessels. 

The company has also successfully placed another five vessels in its existing fleet on new charters.