GoodBulk Ltd. (N-OTC: BULK) an owner and operator of dry bulk vessels announces that on April 27, 2018 it took delivery of the Aquamaka, a 2009 built Capesize vessel of 179,362 dwt built by Hyundai Heavy Industries, KR.
The purchase – which is the final one to deliver out of the seven initial Capesize vessels acquired from funds managed by CarVal Investors, LLC (CarVal) pursuant to an agreement entered into on October 26, 2017 – was financed with a combination of cash on hand, availability under existing credit facilities and the issuance of 1,280,000 new common shares to funds managed by CarVal.
Following the share issue to CarVal the Company will have 28,118,727 outstanding common shares. The vessel is expected to be employed in the spot market via the Capesize Revenue Sharing Agreement (“Capesize RSA”) managed by C Transport Maritime SAM (“CTM”). Including the Aquamaka, GoodBulk has a fleet of 25 vessels, consisting of 22 Capesize vessels (of which two are expected to be delivered by July 2018), 1 Panamax vessel and 2 Supramax vessels.