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March 14, 2014
08:31 EDTNEWLNewLead agrees to acquire two eco-type handysize vessels for $37M
NewLead announced that it has executed definitive agreements for the acquisition of two eco-type 31,800 dwt, Handysize bulk carriers built in 2012 for a total acquisition price of $37M. The two eco-type vessels are expected to be delivered in NewLead by the end of June and July this year. Upon completion of this acquisition, NewLead will own five dry-bulk vessels, consisting of three Handysize and two Panamax vessels. The company expects to finance the acquisition of the two vessels through the combination of proceeds from its recent preferred shares issuance along with the 75% debt financing, as previously announced. On March 11, NewLead paid a deposit of $1.85M to the acquisition price, and the remaining $7.4M, not subject to the debt financing, is expected to be paid in installments upon delivery of the two vessels.
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June 23, 2015
09:21 EDTNEWLNewLead enters into time charter contract for Newlead Castellano vessel
NewLead Holdings announced that it has entered into a time charter contract for one of its Eco-type dry bulk Handysize vessels, the Newlead Castellano, for a minimum of three and a maximum of five months. The gross charter-out rate is $7,650 per day less a 6.25% commission paid to third parties. The vessel was delivered to the charterers at the beginning of June. NewLead has approximately 50.71% and 36.53% of its operating days covered for 2015 for its dry bulk and tanker vessels, respectively.

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