NewLead Holdings Ltd., an international shipping company owning and operating tankers and dry bulk vessels, today announced that on July 28, 2011, the "Navios Serenity," a new Handysize dry bulk vessel of 35,000 dwt, was delivered from a Korean shipyard to NewLead's fleet, Shipbuilding Tribune reports.
Mr. Michael Zolotas, president, chief executive officer and interim chief financial officer of NewLead, stated, "We are pleased to have taken delivery of one of the two new Handysizes to be added to NewLead's fleet. Today, we control a fleet of 20 vessels in operation. We will continue to optimize our fleet and secure competitive charters."
The daily base charter-out rate is $10,100 for the first two years and $12,000 thereafter. Above $14,000 per day, profit sharing is 40% based on actual earnings. Charterers have a 50% purchase option.
Mr. Michael Zolotas, president, chief executive officer and interim chief financial officer of NewLead, stated, "We are pleased to have taken delivery of one of the two new Handysizes to be added to NewLead's fleet. Today, we control a fleet of 20 vessels in operation. We will continue to optimize our fleet and secure competitive charters."
The daily base charter-out rate is $10,100 for the first two years and $12,000 thereafter. Above $14,000 per day, profit sharing is 40% based on actual earnings. Charterers have a 50% purchase option.
For the first two years of the charter, the anticipated annualized EBITDA calculation assumes daily operating expenses of $4,747 per day and 360 revenue days as well as profit sharing.
For the years three through 12 of the charter, the anticipated annualized EBITDA calculation assumes daily operating expenses of $4,747 per day and 360 revenue days as well as profit sharing.
Anticipated aggregate EBITDA over the life of the contract assumes daily operating expenses of $4,747 per day (growing at 3% annually) as well as profit sharing.
For the years three through 12 of the charter, the anticipated annualized EBITDA calculation assumes daily operating expenses of $4,747 per day and 360 revenue days as well as profit sharing.
Anticipated aggregate EBITDA over the life of the contract assumes daily operating expenses of $4,747 per day (growing at 3% annually) as well as profit sharing.
NewLead Holdings Ltd. is an international, vertically integrated shipping company that owns and manages product tankers and dry bulk vessels. NewLead currently controls 22 vessels, including six double-hull product tankers and 16 dry bulk vessels of which two are newbuildings. NewLead’s common shares are traded under the symbol “NEWL” on the NASDAQ Global Select Market.