NewLead Holdings Buys Vessels

Tuesday, February 23, 2010

NewLead Holdings Ltd. (NASDAQ:NEWL) announced that it has signed a Stock Purchase Agreement providing for the purchase of two Kamsarmaxes for an aggregate purchase price of $112.7m and signed a Memorandum of Agreement for the sale of the product tanker Chinook for $8.5m.

“NewLead's fleet continues to transform, becoming younger and more versatile," said Michael S. Zolotas, President and Chief Executive Officer. "As we sell non-productive assets, we will be seeking to add new vessels particularly those with favorable charters. These two high quality dry bulk Kamsarmaxes add a unique class of vessel to our fleet and seven years of revenue visibility."

The company is acquiring two geared, 80,000 DWT Kamsarmaxes from COSCO Dalian Shipyard Co. Ltd. to be delivered in the fourth quarter of 2010 and 2011, respectively. The charter for the first vessel is for a five-year initial term at $28,710 (net) a day. The charter for the second vessel is for a seven-year term at $27,300 (net) a day.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DNV GL Issues Design Guidelines for DP Operations

Advanced dynamic positioning (DP) vessels can now meet critical safety regulations while gaining operational flexibility, efficiency and cost savings through new design and monitoring methods.

USCG Suspends Search for Missing Mariner off Lanai

The Coast Guard suspended the search Monday for a missing mariner after the fishing vessel he was aboard capsized approximately one mile west of Lanai. “Following extensive efforts by sea,

Petrobras Requests to Assist the Federal Prosecutors Office

On April 24, Petrobras submitted a request to assist the Federal Prosecutors Office in seven criminal lawsuits related to Operação Lava Jato (Operation Car Wash),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1331 sec (8 req/sec)