Hellenic Carriers Limited SALE OF VESSEL (7035K)
August 24 2012 - 1:00AM
UK Regulatory
TIDMHCL
RNS Number : 7035K
Hellenic Carriers Limited
24 August 2012
Hellenic Carriers Limited
Press Release 24 August 2012
SALE OF VESSEL
Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM:
HCL), an international provider of marine transportation services
for dry bulk cargoes, is pleased to announce that, in continuation
of its fleet renewal program, its wholly owned subsidiary Patmos
Shipping Co. Ltd ("Patmos") has completed the sale of the
1991-built at Jiangnan, China 65,434 dwt Panamax dry bulk carrier,
M/V Hellenic Sea. M/V Hellenic Sea was sold to nominees of Dianik
Bross Shipping Corp., an unaffiliated third party, for a total cash
consideration of US$5.3 million. The vessel was delivered to her
new owners on 23 August 2012.
The vessel was initially acquired in March 2002 at a price of
US$9.6 million. During the past ten years of her operation, the
vessel contributed approximately US$40.6 million to the Company's
net profit. Taking into account the vessel's net book value and
expenses related to the sale, the Company expects to realise a net
book loss of approximately US$0.2 million on this sale.
The Company's intention is to use the proceeds from the sale of
this vessel towards future acquisition opportunities in the dry
bulk sector. In particular, the lender of M/V Hellenic Sea has
agreed to transfer the proceeds from the sale as bank financing
towards the acquisition of a modern second hand bulk carrier,
within a period of 12 months from completion of the sale.
Fleet Profile as of the date of this Press Release:
Vessel Type Year Built Yard Carrying
Capacity
(dwt)
-------------- ---------- ------------ ------------------------- ----------
Hellenic Tsuneishi Shipbuilding,
Wind Panamax 1997 Japan 73,981
-------------- ---------- ------------ ------------------------- ----------
Halla Engineering
Hellenic & Heavy Industries,
Horizon Handymax 1995 Korea 44,809
-------------- ---------- ------------ ------------------------- ----------
Mitsui Engineering
Konstantinos & Shipbuilding,
D Supramax 2000 Japan 50,326
-------------- ---------- ------------ ------------------------- ----------
Zhejiang Ouhua
Hull No. Shipbuilding,
629 Kamsarmax on order China 82,000
---------- ----------- ---------- ---------------- -------
Zhejiang Ouhua
Hull No. Shipbuilding,
630 Kamsarmax on order China 82,000
---------- ----------- ---------- ---------------- -------
Aggregate Carrying Capacity: 333,116
------------------------------ --------
For further information please contact:
Hellenic Carriers Limited
Fotini Karamanli, Chief Executive Officer
E-mail: info@hellenic-carriers.com +30 210 455 8900
Panmure Gordon (UK) Limited
Andrew Godber +44 (0) 20 7459 3600
Capital Link
Nicolas Bornozis +1 212 661 7566 (New York)
Eleni Theodoropoulou +44 (0) 20 3206 1320 (London)
E-mail: helleniccarriers@capitallink.com
Further Information - Notes to Editors
About Hellenic Carriers Limited
Hellenic Carriers Limited manages through Hellenic
Shipmanagement Corp. a fleet of dry bulk vessels that transport
iron ore, coal, grain, steel products, cement, alumina, and other
dry bulk cargoes worldwide. Further to the sale of the M/V Hellenic
Sea, the fleet consists of three vessels, comprising one Panamax,
one Supramax and one Handymax with an aggregate carrying capacity
of 169,116 dwt and a weighted average age of 15.1 years and two new
building Kamsarmax vessels currently on order, with an aggregate
carrying capacity of about 164,000 dwt.
Hellenic Carriers is listed on the AIM of the London Stock
Exchange under ticker HCL.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISLLFLRTAIVFIF
Hellenic Carr. (LSE:HCL)
Historical Stock Chart
From Jan 2025 to Feb 2025
Hellenic Carr. (LSE:HCL)
Historical Stock Chart
From Feb 2024 to Feb 2025
