Boston Carriers Inks Bareboat Charter Deal to Buy Bulker

Jan 12, 2018

Greece-based shipping company Boston Carriers has entered into a contract to acquire a secondhand dry bulk carrier.

The company has not disclosed the name or the owner of the 46,000 dwt, 1996-built vessel which will become the only owned ship in the company’s fleet.

As informed, the company will provide a down payment of USD 500,000 together with the issuance of 10 million shares of common stock restricted for four years at a price of USD 0.05 per share prior to delivery of the vessel.

Boston said it will pay USD 2,191 per day for a period of five years during for having full use of the vessel. After the end the payment schedule, the bulker will be fully owned by Boston without any further payment.

Antonios Bertsos, Chairman and Chief Executive Officer, stated that “Boston’s short-term employment strategy allows the company to capture any potential upside that arise 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,” he added.

In 2017, Boston Carriers chartered several times the Handymax bulker Nikiforos from compatriot Marine Spirit. It is understood that the newly purchased vessel is the 45,700 dwt Nikiforos, previously named Go Trader.

HEADLINES