NewLead Holdings Ltd. Announces Commercial Performance of MV Newlead Venetico

Hamilton, Bermuda - Aug. 25, 2015 - PRNewswire

NewLead Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today a review of the commercial performance of the MV Newlead Venetico ("Newlead Venetico") since January 1, 2015.

The Newlead Venetico is a 2012-built dry bulk eco-type Handysize vessel of 32,394 dwt and is one of the three dry bulk eco-type Handysize vessels that were delivered to NewLead's fleet during 2014.

Since the beginning of 2015, the Newlead Venetico has been trading in the spot market and has already completed four charter party agreements. Initially, the vessel was trading in the Pacific area where she completed one voyage charter and one time charter trip. Thereafter, NewLead's management took a position to fix the vessel on a time charter trip from the Pacific to the Atlantic area where charter rates are most competitive. By the end of the third quarter of 2015, the Newlead Venetico is expected to have completed three time charter trips in the Atlantic area.

The Newlead Venetico has transported approximately 84,200 metric tons of steel raw materials and 63,000 metric tons of grains. The vessel is expected to transport up to a maximum of 31,000 metric tons of steel raw materials by the end of the third quarter of 2015.


The 2012-built, 32,394 dwt dry bulk eco-type handysize "Newlead Venetico". Image by NewLead Holdings Ltd.

Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "NewLead has managed to endure the historic distressing dry bulk market conditions by achieving a diversification not only of the employment but also of the geographical positioning of its dry bulk fleet. NewLead has ensured the positioning of its handysize dry bulk vessels not only in the Atlantic area where the rates are most competitive but also in the Pacific area to capture any opportunities in that market. NewLead has maintained a balanced employment strategy among long term period charters, spot employment and COAs."

Mr. Zolotas, added, "NewLead constantly monitors the dry bulk market landscape as it acclimates with the global economy and trade outlook, as well as oil price trends. Our adaptive approach to chartering, as well as our operational flexibility, allows NewLead to be in a position to consider any long term charter party agreement at any time, provided the appropriate dry bulk market conditions develop."

NewLead has approximately 37.83% and 74.73% of its operating days covered for 2015 and 20% and 16.27%of its operating days covered for 2016 for its dry bulk and tanker vessels, respectively.


The 2012-built, 32,394 dwt dry bulk eco-type handysize "Newlead Venetico". Image by NewLead Holdings Ltd.

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international vertically integrated shipping, logistics and commodity company providing ideal solutions for seaborne transportation of dry bulk commodities and petroleum products through owned and managed vessels. NewLead controls a fleet of ten vessels, including five dry bulk and five tanker vessels and manages one third party tanker vessel. NewLead is a Securities and Exchange Commission ("SEC") reporting Foreign Private Issuer in compliance with applicable SEC rules and regulations and current in its SEC reporting, utilizing U.S. Generally Accepted Accounting Principles' financial reporting standards. NewLead's common shares are traded under the symbol "NEWL" on the Over-the-Counter market. To learn more about NewLead Holdings Ltd., please visit NewLead's renewed website at www.newleadholdings.com.

NewLead Holdings Ltd. press release