Greek-based United Maritime has sealed a deal to acquire a modern Panamax vessel, through a bareboat-in charter, while it took delivery of two Kamsarmax vessels with immediate period employment.

United boosts its fleet by taking a Japanese Panamax dry bulk ship on bareboat charter with a purchase option attached.

The Stamatis Tsantanis-led company has entered into a twelve-month bareboat charter deal for a 2015-built eco Japanese Panamax dry bulk vessel of 78,020 deadweight with an unaffiliated third party in Japan. The bareboat charter agreement will commence in the third quarter of 2023 and includes a purchase option for United.

United has advanced a down payment of $3.5 million on signing and will further pay $3.5 million on delivery of the vessel to the company, and a daily bareboat rate of $8,000 over the period of the bareboat charter. At the end of the 12-month bareboat period, United has an option to purchase the vessel for $17.1 million.

The company has also taken delivery of two previously announced Kamsarmax vessel acquisitions and has secured time charter contracts for both ships that commenced upon the respective deliveries.

The first vessel was built in 2009 at Universal Shipbuilding in Japan, has a cargo-carrying capacity of 81,508 deadweight and was renamed “Cretansea.” The vessel Cretansea has been fixed on a time charter for a period of about twelve to about fourteen months with a multinational commodity trading company.

The second vessel was built in 2010 at Tsuneishi Zhoushan Shipbuilding, has a cargo-carrying capacity of 82,217 deadweight and was renamed “Oasea.” The vessel Oasea has been fixed on a time charter for a period of minimum eleven to about fourteen months with a major European operator.

Stamatis Tsantanis, United Maritime’s Chairman & CEO, stated: “The new bareboat-in agreement for another modern Panamax vessel strengthens our presence in the sector further, without substantial capital outlay on its delivery, and provides a purchase option at the end of the bareboat period. Moreover, the delivery of two Kamsarmaxes and the prompt commencement of their charters is expected to generate approximately $8 million in gross revenues by the end of the year”.