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.
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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.”