Excel buys supramaxes
Greek-based bulker owner Excel Maritime Carriers has bought two 2005-built supramax bulk carriers for US US$63m per vessel and is looking out for more suitable modern tonnage.
Upon delivery of the vessels, the Excel will have a fleet of ten panamax, two supramax and six handymax vessels with an average age of 12.9 years.
CEO Christopher Georgakis commented, “We are very pleased to announce the acquisition of two modern supramax vessels, which is consistent with our overall fleet expansion and renewal strategy. We believe these acquisitions will enhance our company’s ability to meet the growing global demand of dry bulk shipping. In addition, we plan to continue to seek acquisition opportunities as they may arise to further expand our dry bulk fleet. Based on our fleet deployment strategy, we will seek to deploy these vessels in the period market at the appropriate time, in order to further enhance our revenues and profitability, while generating strong and predictable cash flows for the longer term”.
Upon delivery of the vessels, the Excel will have a fleet of ten panamax, two supramax and six handymax vessels with an average age of 12.9 years.
CEO Christopher Georgakis commented, “We are very pleased to announce the acquisition of two modern supramax vessels, which is consistent with our overall fleet expansion and renewal strategy. We believe these acquisitions will enhance our company’s ability to meet the growing global demand of dry bulk shipping. In addition, we plan to continue to seek acquisition opportunities as they may arise to further expand our dry bulk fleet. Based on our fleet deployment strategy, we will seek to deploy these vessels in the period market at the appropriate time, in order to further enhance our revenues and profitability, while generating strong and predictable cash flows for the longer term”.