Wilson Buys Two Bulkers

Maritime Activity Reports, Inc.

November 21, 2019

Image: Wilson Ship Management

Image: Wilson Ship Management

Wilson Ship Management, a short sea company working hand in hand with major players within the Norwegian and European industry, has signed an agreement to purchase the two bulk carriers MV Lauren C (2007) and MV Nicole C (2008), both of 5,000 dwt.

The vessels are expected to be acquired during the first quarter of 2020. Upon acquisition, both vessels will be given Wilson names. The purchase is financed through equity and deductions from the company's loan facility in the bank.

The acquisition of MV Lauren C and MV Nicole C marks the growth of today's fleet with two vessels. The acquisition underpins Wilson's long-term belief in the market and is the company's first vessel in the 5,000 dwt segment.

Meanwhile, Wilson has entered into an agreement to sell the bulk carrier MV Wilson REEF. The ship was built in 1975 and is 6,258 dwt. Scheduled delivery of the ship is scheduled for the first quarter of 2020.

The sale of MV Wilson REEF will give an accounting gain as the ship is sold at slightly above book value.

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