All of the ultramax vessels were built at Chengxi Shipyard Co Ltd in China, of which two were delivered in 2014 and one was delivered in 2015. The kamsarmax bulk carrier is a resale unit whose construction will be supervised by the company and which will be delivered from Jiangsu New Yangzijiang Shipbuilding Co Ltd in China in 2Q18.
The cash component of the vessel acquisitions will be funded by cash on hand, as well as new debt facilities which are currently under discussion with the company’s lenders.
