Greece-Based Operator Takes Delivery of Handysize Eco-Bulker

by Ship & Bunker News Team
Wednesday September 24, 2014

Greece-based shipper NewLead Holdings Ltd (NewLead) has announced it has taken delivery of a fuel-efficient 2013-built Handysize dry bulker.

The company agreed to acquire the 35,542 deadweight tonne (dwt) vessel for $19.5 million in December 2013, since which time a further two acquisitions have been delivered for a combined purchase price of $37 million.

The latest vessel, Newlead Castellano, is the third eco-type Handysize vessel to be delivered to NewLead's owned fleet since January 2014 and is trading on the spot market.

"This is the third modern and fuel efficient vessel to be delivered to NewLead's fleet in less than a year," said Michael Zolotas, Chairman and CEO at NewLead.

"Today, NewLead's fleet is completely transformed and optimized," he added.

The new vessels are significantly younger than the previous fleet average and the company says its overall strategy is to overhaul its fleet by bringing in younger vessels.

Zolotas hinted at further expansion, saying, "we continue to capture on opportunities to grow our fleet to establish a strong platform ready to benefit from market and industry opportunities."

Greek dry bulking operation, Globus Maritime Ltd. recently announced a drop in profits citing a difficult period for the dry bulk industry.