Dr. Loukas Barmparis, President of the Company commented: “The MV Koulitsa will be replaced by the previously announced acquisition of the 2013-built, Panamax class, dry bulk vessel to be named MV Koulitsa 2, purchased at a price of US$22 million with an expected delivery within July 2021, which has already been chartered at a gross daily charter rate of US$24 000 for a period of 12 months. This transaction concludes the sale of all our vessels built prior to 2004.”