The Greek-based and Nasdaq-listed bulker owner United Maritime has sealed a bareboat charter deal for a kamsarmax dry bulk carrier with a purchase option attached.
The Stamatis Tsantanis-led Greek company, with a fleet of eight dry bulk vessels, entered in February into a bareboat charter agreement for an 82,235-dwt kamsarmax dry bulk carrier built in 2016 in Japan.
The vessel will be renamed Nisea and is expected to be delivered to United between June and October 2024.
As the Greek owner reports, the kamsarmax will be chartered in under an 18-month bareboat charter agreement-
The deal is structured with a down payment of $7.5m, a daily charter rate of $8,000 over the period of the bareboat charter, and a purchase option of $16.6m at the end of the bareboat charter.
The acquisition cost for the vessel, if the owner decides to exercise the purchase option, will be about $28.5m.
Additionally, the company has sealed a new time-charter agreement at an improved index linked rate with the existing charterer of the panamax 2013-built Chrisea for a duration of about 12 to about 15 months.
The charter will be in direct continuation from the current time-charter agreement and is expected to commence in June 2024.
Upon the completion of the delivery of a third kamsarmax vessel, the company’s operating fleet will consist of three capesize, three kamsarmax and three panamax vessels, with an aggregate cargo carrying capacity of 1,004,289 dwt.
Stamatis Tsantanis, the chairman and chief executive, noted: “Looking ahead, our outlook for the dry bulk market remains constructive based on limited new Capesize deliveries and continuing strong dry bulk commodity demand across the board, while disruptions involving low Panama Canal water levels and tensions in the Red Sea have reduced vessel availability, especially in the Panamax segment.
“The healthy dry bulk market seen so far in the first quarter seems to be sustainable through the rest of the year, making us optimistic about our financial performance in 2024 with a fleet that will consist of three Capesize, three Kamsarmax and three Panamax vessels.”
