Precious Shipping diversifies with MR tanker acquisition

Thailand’s Precious Shipping has made its first move into the tanker sector with the acquisition of a medium-range product tanker as it looks to diversify beyond dry bulk. The Bangkok-listed owner said its wholly owned Singapore subsidiary, Precious Horizon, has agreed to buy the 2006-built MR tanker Florence for $11.1m. The 48,000 dwt vessel was …