GoodBulk Ltd. (GoodBulk) (N-OTC: BULK) an owner and operator of drybulk vessels announced yesterday that it took delivery (on Dec 4, 2017) of the Aquarange, a 2011-built Capesize vessel of 179,842 dwt built by Hanjin, PH.
The purchase, which is the first to deliver of 7 Capesize vessels acquired from funds managed by CarVal Investors (“CVI”) on October 26, was financed with a combination of cash on hand, availability under existing credit facilities, and the issuance of new common shares.
The vessel will be employed in the spot market via the Capesize Revenue Sharing Agreement (“Capesize RSA”) managed by C Transport Maritime SAM (CTM). Including the Aquarange, GoodBulk currently has an on the water fleet of 10 Capesize vessels, 1 Panamax vessel, and 2 Supramax vessels operating in the spot market, with an additional 6 Capesize vessels to be delivered between the 4th quarter of 2017 and 1st quarter of 2018.
The Company has an option to acquire an additional 6 Capesize vessels from funds managed by CVI.