United Maritime has reached agreements with two unaffiliated third parties for the acquisition of two Kamsarmax dry bulk vessels for a combined purchase price of $39.2m.

The company also signed a bareboat charter agreement with an unaffiliated third party for a Japanese-constructed modern Panamax dry bulk vessel.

United has a purchase option with the bareboat charter agreement.

Constructed in 2009 at Universal Shipbuilding in Japan, the first Kamsarmax vessel has a cargo-carrying capacity of 81,508 deadweight tons (dwt). It will be renamed M/V Cretansea.

With a cargo-carrying capacity of 82,217dwt, the second vessel was constructed in 2010 at Tsuneishi Zhoushan Shipbuilding. United will rename this vessel M/V Oasea.

The company expects to receive both vessels in April, subject to satisfaction of certain customary closing conditions.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The bareboat charter agreement with an unaffiliated third party is for a 2013-constructed, 78,173dwt dry-bulk vessel and will last for 18 months.

According to the terms of the bareboat charter, the company made a down payment of $3.5m on signing and will pay a further $3.5m on delivery of the vessel, which is expected to be completed this month.

United Maritime chairman and CEO Stamatis Tsantanis said: “Following our recent highly-profitable sale of three of our tankers, we are further expanding United’s fleet with the addition of these three vessels, an investment of approximately $63m upon full consummation of the purchase of the bare-boat transaction.

“Our total recent investment in dry bulk will exceed $98m in five vessels, as we strongly believe that it is the right time to invest in the particular sector.”