Greece’s Boston Carriers has announced the acquisition of a 1996-built 46,000 dwt dry bulk vessel.
In a complex arrangement, the company will provide a down payment of $500,000 together with the issuance of 10m shares of common stock restricted for four years at a price of $0.05 per share prior to delivery of the vessel. Boston will then take the vessel on a five-year bareboat contract at $2,191 per day and at the end of the charter period the vessel will be fully owned by the company.
Splash understands the vessel to be handymax bulker Nikiforos, currently owned by compatriot company MIM Maritime. Boston Carriers has chartered the vessel on several short term contracts during 2017, and it will become the only owned vessel in the Boston fleet.
“Boston’s short term employment strategy allows the company to capture any potential upside that arises in the dry bulk market. We believe in the dry bulk sector and will attempt to continue to grow our fleet with additional dry bulk handysize-handymax vessels,” said Antonios Bertsos, chairman and CEO of Boston Carriers.