Greece’s NewLead Holdings will be looking for chartering opportunities in the dry bulk market as it attempts to grow its bulker fleet, according to the shipowner’s CEO.
In an 8 September announcement reviewing the commercial performance of its bulker Newlead Albion, NewLead chief Michael Zolotas said the company’s “operational flexibility” allows it to thrive in a dry bulk market that is seeing historically low rates.
“We believe in the dry bulk sector and will attempt to continue to grow our fleet with additional dry bulk Handysize vessels” such as the 2012-built NewLead Albion, Zolotas affirmed.
The 32,318 dwt vessel is one of the three eco-type Handysize bulkers that were delivered to NewLead’s fleet during 2014. Since January the vessel has been trading principally on short-term time charter contracts in the Pacific Ocean, transporting approximately 75,000 tonnes of dry bulk cargoes, according to NewLead. The vessel is on a time charter contract for between two and four months at the charterer’s option.
NewLead in January added five bitumen tankers to its fleet through purchases and leasing agreements. It currently controls a fleet of ten vessels, including five bulkers, and manages one-third party tanker.
The company said it 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.