NewLead Holdings announces acquisition of one newbuilding dry bulk vessel
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NewLead Holdings Ltd. announced today that it has recently agreed to acquire one newbuilding Eco Type geared double hull Handysize dry bulk vessel for a purchase price of $19.5 million. The vessel is 35,000 dwt and is expected to be delivered in the third quarter of 2014, the company said in its press release.
Mr. Michael Zolotas, chairman and chief executive officer of NewLead, stated, "As we have previously announced, following the completion of NewLead's restructuring and alongside the development of its commodity arm, our aim is the continuous growth of our fleet. This is the first Eco Type vessel with high specifications to be added to NewLead's fleet. We are exploring all options and opportunities for the chartering of this vessel which will likely be announced closer to the delivery of the vessel."
The down payment was paid, and the balance will be paid, as a result of the transactions described in the Current Report on Form 6-K filed on December 2, 2013 that will result in NewLead acquiring the vessel free and clear of all liens.
About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international, vertically integrated shipping and commodity company that manages product tankers and dry bulk vessels. NewLead currently controls two dry bulk vessels. NewLead's common shares are traded under the symbol "NEWL" on the NASDAQ Global Select Market.