The 2012-built dry bulk eco-type Handysize vessel of 32,318 dwt "Newlead Albion". Image by NewLead Holdings Ltd. |
Performance of MV Newlead Albion
Hamilton, Bermuda - Sept. 8, 2015 - PRNewswire
NewLead Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today a review of the commercial performance of the MV Newlead Albion ("Newlead Albion") since January 1, 2015.
The Newlead Albion is a 2012-built dry bulk eco-type Handysize vessel of 32,318 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 Albion has been trading principally on short term time charter contracts while the vessel completed one spot voyage at the beginning of 2015. As previously announced on June 30, 2015, the vessel is on a time charter contract for a minimum of two and a maximum of four months at the charterer's option.
The Newlead Albion has been primarily trading in the Pacific Ocean area while trading is at charterer's option. Since January 1, 2015, the vessel has transported 74,488.24 tons of dry bulk cargoes.
Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "NewLead's diversified employment and geographical positioning strategy allows the Company to capture any chartering opportunities that arise in the dry bulk market while at the same time to preserve a balance between spot, time charter and COAs."
Mr. Zolotas, added, "NewLead's commercial and operational flexibility permits for a positive commercial competency at a historic low dry bulk market. We believe in the dry bulk sector and will attempt to continue to grow our fleet with additional dry bulk Handysize vessels to allow for additional commercial flexibility."
NewLead has approximately 48.6% and 76.67% 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.
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
The 2012-built dry bulk eco-type Handysize vessel of 32,318 dwt "Newlead Albion". Image by NewLead Holdings Ltd.