FreeSeas offloads two bulkers

Athens: Greek handysize operator FreeSeas has fixed a pair of handysize bulkers on a sale and leaseback deal.

A set of unspecified Norwegian investors will take the pair and put them on a bareboat charter back to Freeseas at a charter rate of $5,600 a day

Ion Varouxakis, the head of Freeseas, commented: “We are pleased to enter into these agreements, which enable the company to leverage its balance sheet for fleet expansion at an opportune time for counter-cyclical investments in the dry bulk market. Being positioned as a buyer in a falling asset prices environment we believe is the best possible strategy.”

 

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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