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Newlead Holdings Ltd News

23 Dec 2015

NewLead Renews CoA for MT Katerina

NewLead Holdings Ltd. has today renewed the Contract of Affreightment (the "CoA") for one of its bitumen tanker vessels, the MT Katerina L for an additional twelve month period, for the transportation of a minimum of 49,600 metric tons of bitumen over 16 voyages, or, at the Charterer's option, up to a maximum of 74,400 metric tons of bitumen over 24 voyages. The first shipment is scheduled to commence at the beginning of January 2016. The Katerina L will be trading in the Mediterranean area between all the major refineries, on the basis of the Vessel's relevant oil major approvals. In 2015, the Katerina L performed 15 voyages and transported 45,669 metric tons of bitumen in the Mediterranean area, (the initial term of the first CoA was only for 31,000 metric tons of bitumen).

28 Sep 2015

NewLead Fixes Newlead Castellano

NewLead Holdings Ltd. announced yesterday that it entered into a time charter contract for one of its dry bulk Eco-type Handysize vessels, the Newlead Castellano, for two consecutive voyages, anticipated to be completed by the end of November 2015, at a gross charter-out rate of US $7,000 per day less a 6.25% commission paid to third parties. The Newlead Castellano is a 2013-built dry bulk Eco-type Handysize vessel of 35,542 dwt and is one of the three dry bulk Eco-type Handysize vessels that were delivered to NewLead's fleet in 2014. Since the beginning of 2015, the Newlead Castellano has completed three time charter contracts and has transported 125,995 tons of dry bulk cargo. The vessel's utilization in 2015 up until today is 95%.

16 Sep 2015

NewLead Fixes Tanker

NewLead Holdings Ltd. announced today that the Company has entered into a new time charter contract for one of its bitumen tanker vessels, the MT Newlead Granadino for a minimum of six months with the charterer's option to extend the contract at the end of the first six months for additional six month periods up to a maximum of eighteen months. The net charter-out rate is $10,500 for the initial six months and $10,750 for the remaining optional periods. The charter commenced on July 22, 2015. The Newlead Granadino is a 2009-built double hull bitumen tanker vessel of 5,887 dwt and is one of the five bitumen tanker vessels that were delivered to NewLead's fleet in the fourth quarter of 2014.

02 Sep 2015

NewLead's MT Nepheli Update

NewLead Holdings Ltd.announced today a review of the commercial performance of one of its bitumen tanker vessels, the MT Nepheli since the vessel was delivered to NewLead's fleet. The Nepheli is a 2009-built bitumen tanker vessel of 3,416 dwt and is one of the five bitumen tanker vessels that were delivered to NewLead's fleet in the fourth quarter of 2014. When NewLead took delivery of the Nepheli in November 2014, the vessel was already chartered-out on a time charter agreement for one year at a net rate of US $6,700 per day. The time charter contract was concluded at the end of July 2015 and from delivery of the vessel to NewLead until such time, 82,473.76 tons of asphalt were transported.

28 Jul 2015

NewLead Holdings Announces Commercial Competency of MT Sofia

NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet. The Sofia is a 2008-built bitumen tanker vessel of 2,888 dwt and is one of the five bitumen tanker vessels that were delivered to NewLead's fleet during the fourth quarter of 2014. Since the end of November 2014, when NewLead took delivery of the Sofia, the vessel has been trading in the spot market under consecutive voyages. Previously, the Sofia has completed twelve different voyage charter agreements and fifteen different voyages and has transported approximately 29,175 metric tons of bitumen.

31 May 2015

NewLead Holdings' CFO Quits

NewLead Holdings Ltd. announced yesterday that Antonios Bertsos has resigned as Chief Financial Officer of the Company in order to pursue other career opportunities. Antonios Bertsos will remain with the Company until the end of June 2015 to ensure a smooth transition. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "I would like to thank Antonis for his contribution to NewLead."

19 May 2015

NewLead Announces Time Charter Contract

2009-built tanker vessel Ioli  (Photo: NewLead Holdings)

NewLead Holdings Ltd. has entered into a time charter contract with for one of its recently delivered bitumen tanker vessels, the Ioli, for a minimum of one year. The vessel has already been delivered to the charterer that has the option to extend the time charter contract for up to four additional one year periods. The Ioli is a 2009-built bitumen tanker vessel of 3,396 dwt and is one of the five bitumen tanker vessels that were recently delivered to NewLead's fleet. NewLead has approximately 48.58% and 38.05% of its operating days covered for 2015 for its dry bulk and tanker vessels…

04 Mar 2015

Newlead Bags Panamax COA

NewLead Holdings Ltd. announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation, anticipated to be completed within a twelve month period, of approximately 704,000 tons of aggregates over eleven consecutive voyages. The Newlead Markela will be trading in the Arabian Gulf and the first shipment is scheduled to commence during March 2015. Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "We have succeeded in securing solid employment of the Newlead Markela for the year 2015 while the dry bulk market is at historical lows.

25 Feb 2015

NewLead Holdings' Tanker contracted

NewLead Holdings Ltd. announced today that it has entered into its first Contract of Affreightment for one of its bitumen tankers vessels, the Katerina L, for the transportation, within a ten month period, of a minimum of 31,000 tons of bitumen over ten voyages, or, at the Charterer's option, up to a maximum of 49,600 tons of bitumen over 16 voyages. The first shipment is scheduled to commence by the end of February 2015. The Katerina L will be trading in the Mediterranean and United Arab Emirates areas between all the major refineries in the respective areas. Katerina L has secured employment for a minimum of 100 and a maximum of 300 days in 2015, depending on the respective trading routes. Mr.

11 Feb 2015

NewLead Holdings Company Update

NewLead Holdings Ltd. has succeeded in growing the fleet of the Company from two to ten vessels in less than one year following its growth strategy and delivering on its commitments. NewLead's fleet has been entirely transformed to include younger, flexible in size, fuel-efficient vessels with an anticipated substantially longer employment lifetime and revenue capacity. Today, NewLead controls a fleet of ten vessels, five dry-bulk and five tanker vessels, with an average fleet age of 7.4 years. At the beginning of 2014, NewLead controlled a fleet of two dry-bulk vessels with an average fleet age of 17.84 years. NewLead succeeded in taking delivery of three modern…

28 Jan 2015

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market. NewLead completed the acquisition of three bitumen tankers, the "Captain Nikolas I", the "Nepheli" and the "Sofia", for a purchase price of approximately $21.0 million, to be paid through a combination of equity and debt financing. The other two bitumen tankers, the "Ioli" and the "Katerina L", were added to NewLead's fleet following two separate bareboat/leasing agreements. The…

27 Jan 2015

NewLead Expands Fleet to 10 Vessels

NewLead Holdings Ltd. announced that it recently added five bitumen tanker vessels, expanding its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market. NewLead completed the acquisition of three bitumen tankers, the Captain Nikolas I, the Nepheli and the Sofia, for a purchase price of approximately $21 million, to be paid through a combination of equity and debt financing. The other two bitumen tankers, the Ioli and the Katerina L, were added to NewLead's fleet following two separate bareboat/leasing agreements. The company has the option to purchase the last…

17 Dec 2014

NewLead & Ironridge Global Reach Settlement

NewLead Holdings Ltd. announced today that the Company reached a full and final settlement with Ironridge Global IV ("Ironridge") on December 11, 2014 of all disputes between the parties.  Pursuant to the settlement, the arbitration proceedings between the parties referred to in the Company's press release of June 5, 2014 has been discontinued, and the Share Subscription Agreement entered into on March 4, 2014 and the other related transaction documents, including the Series A Preference Shares, Promissory Notes and Irrevocable Letter of Instruction, have all been terminated and canceled.

24 Oct 2014

NewLead Fixes Newcomer, "Newlead Castellano"

NewLead Holdings Ltd. announced today that it has entered into a time charter contract for the recently delivered Handysize vessel, the "Newlead Castellano". The Newlead Castellano has been chartered-out at a gross rate of $9,500 per day, minus a 6.25% commission payable to third parties, for a minimum of three and a maximum of five months. This employment is anticipated to generate approximately $855,000 of gross revenue for the minimum scheduled period of the time charter. The Newlead Castellano is a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt and is the third modern eco-type Handysize vessel to be delivered to NewLead's owned fleet in 2014.

22 Sep 2014

NewLead Takes Delivery of 3rd Eco-Type Bulker

NewLead Holdings Ltd.announced today that the "Newlead Castellano", a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLead's owned fleet on September 16, 2014. The Newlead Castellano is trading on the spot market and is expected to generate approximately $1.7 million EBITDA per year assuming $1.73 million yearly operating expenses. The Newlead Castellano is the third modern eco-type Handysize vessel to be delivered to NewLead's owned fleet since January 2014. NewLead had agreed to acquire this vessel for a purchase price of $19.5 million in December 2013, as previously announced. The other two Handysize vessels…

19 May 2014

NewLead Takes Delivery of Eco-Type Handysize Vessel

NewLead Holdings Ltd. (NASDAQ: NEWL) said that "Newlead Albion", a 2012-built dry-bulk eco-type Handysize vessel of 32,318 dwt, was delivered to NewLead's fleet on Monday, May 19, 2014. The Newlead Albion is trading on the spot market and is expected to generate $2.0 million EBITDA per year assuming $1.73 million yearly OPEX. The Newlead Albion is one of the two eco-type vessels that the Company agreed to acquire in March 2014, as previously announced, for a total acquisition price of $37.0 million, $18.5 million each.

09 Apr 2014

NewLead to Acquire Two Panamax Dry Bulk Vessels

NewLead Holdings Ltd announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million. The two vessels are expected to be delivered to NewLead's fleet within the next three months, subject to the receipt of the necessary financing for the balance of the purchase price. NewLead Holdings Ltd. is an international, vertically integrated shipping and commodity company that manages product tankers and dry bulk vessels. NewLead currently owns two dry bulk vessels and has agreements to acquire three eco-type Handysize dry bulk vessels, one of which is a newbuilding. NewLead owns a wash plant and a mine in Kentucky, USA.

14 Mar 2014

NewLead Buys Two Bulk Carriers

NewLead Holdings Ltd. announced that it has executed definitive agreements for the acquisition of two eco-type 31,800 dwt, Handysize bulk carriers built in 2012 for a total acquisition price of $37 million. The two eco-type vessels are expected to be delivered in NewLead by the end of June and July this year. Upon completion of this acquisition, NewLead will own five dry-bulk vessels, consisting of three Handysize and two Panamax vessels. The company expects to finance the acquisition of the two vessels through the combination of proceeds from its recent preferred shares issuance along with the 75% debt financing, as previously announced.

09 Aug 2013

NewLead Holdings' NASDAQ Compliance Plan Accepted

Greece's NewLead Holdings Ltd. says that NASDAQ has accepted its plan to regain compliance in order to permit the continued listing of the Company's common stock on the NASDAQ Global Select Market. As previously reported, on May 16, 2013 the Company received a letter from NASDAQ stating that the Company was not in compliance with the Rule because the Company did not timely file its Annual Report on Form 20-F for the year ended December 31, 2012 (the "Form 20-F"). As a result of the violation of the Rule, the NASDAQ letter stated that the Company had until July 15, 2013 to submit a plan to regain compliance. On July 10, 2013, the Company submitted to NASDAQ a plan to regain compliance with the Rule.

29 Jan 2013

Greece's NewLead Holdings Regain NASDAQ Compliance

NewLead Holdings Ltd. announce it has received written notification of its compliance from the NASDAQ Stock Market LLC. NewLead Holdings Ltd. is an international, vertically integrated shipping and commodity company that manages product tankers and dry bulk vessels. NewLead currently controls four vessels, two tankers and two dry bulk vessels. The notication indicates that NewLead has regained compliance with the minimum bid price requirement of $1.00 per share for continued listing on the NASDAQ Global Select Market set forth in NASDAQ Listing Rule 5450(a)(1), as its common shares achieved a closing bid price of $1.00 or more for 10 consecutive business days.

22 Jun 2012

Greek Owners Restructure, Sell Two Ships

Greece-based NewLead Holdings Ltd. NewLead Holdings Ltd. ("NewLead")  announce that it has entered into an agreement with Piraeus Bank S.A. ("Piraeus Bank") to proceed with the sale of the two tanker vessels, Hiona and Hiotissa, for an aggregate amount of $57.0 million and to convert, subject to satisfaction of certain conditions precedent by the Company, $18.1 million debt into 22.1 million shares of NewLead's common stock. As a result of this transaction, NewLead will be released from all obligations under the Piraeus Bank credit facility. These transactions are expected to occur in the third quarter of 2012 and are subject to certain conditions.

19 Sep 2012

Tankship, Bulkship Owner's, Shares Below Par

Greece's NewLead Holdings Ltd. receives NASDAQ notification letter regarding minimum bid price requirement. NewLead Holdings Ltd announce they have received a written notification from the NASDAQ Stock Market LLC ("NASDAQ") indicating that they are not in compliance with the NASDAQ Listing Rule 5450(a)(1) because the minimum bid price of its common shares was below $1.00 per share for the previous 30 consecutive business days (the "minimum bid price requirement"). Pursuant to the NASDAQ Listing Rule 5810(c)(3)(A), the Company has been granted a 180-day compliance period, ending on March 12, 2013, to regain compliance with the minimum bid price requirement. During this compliance period, NewLead's common stock will continue to be listed and traded on the NASDAQ Global Select Market.

19 Sep 2012

Greek Shipowners, NewLead Holdings, Restore NASDAQ Comliance

NewLead Holdings Ltd. regains compliance with NASDAQ minimum market value of publicly held shares requirement. NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company"), an international shipping company owning and operating tankers and dry bulk vessels, today announced that it has received notification from the NASDAQ Listing Qualifications department that it has regained compliance with the minimum Market Value of Publicly Held Shares (MVPHS) of $15,000,000. NewLead Holdings Ltd. is an international, vertically integrated shipping company that owns and manages product tankers and dry bulk vessels. NewLead currently controls four vessels, including two double-hull product tankers and two dry bulk vessels.