Including this acquisition, the total order book of the company is comprised of five EEDI-Phase 3 compliant, NOx Tier III Japanese new-build vessels, three of which are Post-Panamax and two are Kamsarmax. The acquisition will be financed from the cash reserves of the company.

Dr. Loukas Barmparis, President of the Company commented: “We continue to invest in the most efficient, environmentally friendly available vessels in the market, gradually renewing our fleet.’’