Greek owner United Maritime is expanding its dry bulk fleet with the addition of three secondhand vessels. The Nasdaq-listed spinoff of Greek capsize specialist Seanergy Maritime, with two capes and one LR2 tanker in its fleet, has bought a pair of kamsarmax bulkers from an unnamed seller and bareboat chartered-in a panamax from a Japanese owner, with a purchase option attached.
The kamsarmaxes, with a combined price tag of $39.2m, were built in Japan and China in 2009 and 2010, respectively. The ships will deliver in April this year and be renamed Cretansea and Oasea. Multiple brokers identified the Chinese-built unit as the 82,500 dwt Liberty K, with the seller said to be Italy’s Dea Capital, while the Japanese-built bulker is the Rimorchiatori Riuniti-owned 81,500 dwt Hampton Bay (pictured).
Meanwhile, industry sources report the 2013-built 78,173 dwt panamax comes from Japan’s Doun Kisen. The vessel known as Oceanic Power has been contracted for 18 months. United has advanced a down payment of $3.5m on signing and will further pay the same amount on delivery, which is estimated to take place within February, and a daily charter rate of $7,300. At the end of the 18-month bareboat period, United has an option to repurchase the vessel for $12.36m.
Stamatis Tsantanis, the company’s chairman and chief executive, said the investment in these three ships will amount to around $63m full consummation of the purchase of the bareboat transaction.
“The attractive values of the acquired ships are intended to place United in a position to generate high returns with moderate leverage from an investment funded without diluting our shareholders. Notwithstanding the seasonal softening of the dry bulk market, the outlook remains strong, supported by all-time low orderbook and the gradually improving global economy. Therefore, these transactions are consistent with our diversified business model, focused on attractive opportunities in sectors with strong fundamentals and upside potential,” remarked Tsantanis.
