NewLead to Acquire Newbuild Eco Type Dry Bulk Vessel

NewLead Holdings Ltd. (NewLead) 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.
Mr. Michael Zolotas, chairman and chief executive officer of NewLead, stated, As we have previously announced, following the completion of NewLeads 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 NewLeads 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.

NewLead, December 4, 2013; Image: Wikimedia