Global Oceanic Carriers Ltd. Announces Acquisition of a Handymax Dry Bulk Carrier Expanding Fleet to Seven Vessels
2007年7月10日 - 4:43PM
ＲＮＳを含む英国規制内ニュース （英語）
Global Oceanic Carriers Limited (AIM: GOC), a global provider of marine
transportation services for dry bulk cargoes, announces today that the Company
has entered into an agreement to purchase a Handymax vessel charter-free for $37
million.
The vessel, acquired from ABG Shipping Limited will be renamed to M/V
"GO Friendship" and is scheduled for delivery in August 2007. The M/V
"GO Friendship" was built in Korea in 1994 and has a carrying capacity of 44,875
dwt. The company intends to finance this acquisition with banking facilities.
Upon delivery, the M/V "GO Friendship" will operate under a fixed-rate period
time charter for 3 years with SAMSUN GLOBAL CORPORATION at the gross rate of
USD 26,850 per day.
The company's current fleet includes five dry bulk carriers, comprised of one
Capesize, two Panamax, one Handymax and one Handysize vessel, and, as already
announced, has entered into two agreements to acquire two Handymax vessels
scheduled for delivery in August (GO Friendship) and October (GO Star) 2007,
thereby expanding its fleet to a total of seven dry bulk carriers with an
aggregate carrying capacity of 456,273 dwt.
The company has secured under fixed rate time charter employment 100% of its
fleet operating days for 2007 and 83.5% for 2008.
Michael Tartsinis, Chief Executive Officer of Global Oceanic Carriers,
commented: "We are pleased to continue with our fleet renewal and expansion
program. This latest acquisition expands our fleet to a total of seven vessels
with an aggregate carrying capacity of 456,273 dwt and lowers our fleet average
age to 16 years. Consistent with our strategy of seeking long term employment
for our vessels, we have secured for the M/V "GO Friendship" a 3 year time
charter with Samsun Global Corporation, a first class charterer, expected to
generate approximately $ 29.4 million in revenues for the duration of the time
charter. This further enhances the stability and predictability of our cash
flows, enabling us to continue with our fleet expansion plans."
Christina Anagnostara, Chief Financial Officer of Global Oceanic Carriers
stated: "By taking advantage of our low gearing, we intend to finance this
acquisition through banking facilities thereby expecting to enhance shareholder
value."
Fleet Profile:
The table below describes the Company's fleet development and deployment as of
today:
Expected Daily
Vessel Name Type DWT Year Built Charter Commencement Charter Period Redelivery Charter
(Minimum Hire (US$)
Period)
-------------- -------------- ------------- ------------- --------------------- -------------- ------------- -----------
GO Patoro Capesize June-07 36 June-10 $ 32,000 *1
150,108 1991 months
-------------- -------------- ------------- ------------- --------------------- -------------- ------------- -----------
GO Public Panamax 71,761 1993 Dec-06 23-25 months Nov-08 $21,000
-------------- -------------- ------------- ------------- --------------------- -------------- ------------- -----------
GO Faith Panamax 65,125 1984 May-07 12-14 months May-08 $28,000
-------------- -------------- ------------- ------------- --------------------- -------------- ------------- -----------
GO Trader Handymax 45,693 1996 Jan-07 26-29 months Mar-09 $19,250
-------------- -------------- ------------- ------------- --------------------- -------------- ------------- -----------
GO Pride Handysize Jun-07 12 Jun-08
35,055 1982 months $18,500
-------------- -------------- ------------- ------------- --------------------- -------------- ------------- -----------
Fleet Total:
5 Vessels 367,742
----------------------------- ------------------------------------------------------------------------------------------
Additional Vessels (with expected delivery dates and with charters commencing
upon delivery)
Expected Daily
Vessel Name Type DWT Year Built Charter Commencement Charter Period Redelivery Charter
(Minimum Hire
Period) (US$)
--------------- --------------- ----------- -------------- -------------------- --------------- ------------- ----------
GO Friendship Handymax Aug-07 36 months Aug-10
*2 44,875 1994 $26,850
--------------- --------------- ----------- -------------- -------------------- --------------- ------------- ----------
GO Star *3 Handymax 43,656 1994 Oct-07 36 months Oct-10 $26,500
--------------- --------------- ----------- -------------- -------------------- --------------- ------------- ----------
Grand Total:
7 Vessels 456,273
------------------------------- ----------------------------------------------------------------------------------------
1. The M/V "GO Patoro" is currently employed under a Time Charter until June
2010. The above mentioned daily charter rate of $32,000 refers to the first year
of the charter until June 2008, while the daily rate will be $27,000 and $22,000
for the second and third years of the time charter ending in June 2009 and June
2010 respectively.
2. The M/V "GO Friendship" is scheduled for delivery in August 2007.
3. The M/V "Go Star" is scheduled for delivery in October 2007.
For further information:
Global Oceanic Carriers Limited
Michael Tartsinis, Chief Executive Officer
Tel: + 30 210 898 6362
E-mail: mtartsinis@gocarriers.com
www.gocarriers.com
Jefferies International Limited
Nick Davies
Tel. + 44 (0) 207 618 3706
E-mail: ndavies@jefferies.com
Investor Relations / Media:
Devina Artley
Taylor Rafferty - Capital Link (London)
Tel. +44 (0)20 7614 2900
E-mail: gocarriersuk@capitallink.com
Paul Lampoutis
Capital Link, Inc. (New York)
Tel. +1-212-661-7566
E-mail: gocarriersus@capitallink.com
www.capitallink.com
Further Information - Notes to Editors
About the Company
Global Oceanic Carriers Limited is a global provider of marine transportation
services for dry bulk cargoes through the ownership, management and chartering
of dry bulk carriers. The company is incorporated in Jersey and has its
principal executive offices in Athens, Greece.
The company's current fleet includes five dry bulk carriers, comprised of one
Capesize, two Panamax, one Handymax and one Handysize vessel. Global Oceanic
Carriers has also entered into two agreements to acquire two Handymax vessels
scheduled for delivery in August and October 2007, thereby expanding its fleet
to a total of seven dry bulk carriers with an aggregate carrying capacity of
456,273 dwt.
GO Carriers is listed on the AIM market under the ticker symbol GOC.L
Visit our website at www.gocarriers.com
Forward-Looking Statement
Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect the current views of Global Oceanic Carriers
Limited ("the Company") with respect to future events and financial performance
and may include statements concerning plans, objectives, goals, strategies,
future events or performance, and underlying assumptions and other statements,
which are other than statements of historical facts.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although the Company believes that these assumptions were reasonable
when made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, the Company cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions, including
changes in charter hire rates and vessel values, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled drydocking,
changes in the Company's operating expenses, including bunker prices,
dry-docking and insurance costs, or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists. The Company does not
assume, and expressly disclaims, any obligation to update these forward-looking
statements.
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