Excel Maritime Carriers Ltd , an
owner and operator of dry bulk carriers and a provider of worldwide seaborne
transportation services for dry bulk cargoes
, announced today that it has agreed to
sell the M/V Goldmar, a Handymax dry bulk carrier of 39,697 dwt, built in 1984 in
Japan, to an affiliated company for $15.85 million net of commissions. The sale has
been approved by the companyâ€™s Board of Directors and the vessel was delivered to
the buyer the week commencing May 7, 2007. Excel Maritime expects to realize a
book gain of approximately $6.2 million from this sale.
Maryville Maritime, Inc., a wholly owned subsidiary of Excel Maritime, will continue
as the technical manager of M/V Goldmar, thus generating a revenue stream for
Excel of about $ 17,000 per month or about $ 200,000 annually.