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30 March 2015
Hellenic Carriers Limited, (“Hellenic” or the “Company”) (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, is pleased to announce that, in continuation of its fleet renewal program, its wholly owned subsidiary Arkadia Maritime Corp. has completed the sale of the 1995-built at Halla Engineering & Heavy Industries, Korea 44,809 dwt Handymax dry bulk carrier, M/V Hellenic Horizon.
M/V Hellenic Horizon was sold to an unaffiliated third party for a total cash consideration of US$3.8 million.
Taking into account the vessel’s net book value and expenses related to the sale, the Company expects to realise a net book loss of approximately US$3.9 million on this sale.
The proceeds from the sale will be used to repay bank debt and strengthen the Company’s balance sheet.
About Hellenic Carriers Limited
Hellenic Carriers Limited owns and trades through its subsidiaries a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide.
The fleet consists of five vessels, including one Panamax, two Supramax and two Kamsarmax vessels with an aggregate carrying capacity of 340,055 dwt and a weighted average age of 9.4 years.
Hellenic Carriers is listed on the AIM of the London Stock Exchange under ticker HCL.
The 1995-built at Halla Engineering & Heavy Industries, Korea 44,809 dwt Handymax dry bulk carrier, M/V Hellenic Horizon
Hellenic Carriers Limited press release