The company is looking for a joint venture partner for the initial purchase of handysize cargo vessels. One of the leading shipping firms in Eastern Europe, this is an opportunity to invest with a strong and well-managed company with business throughout the emerging markets.
The company is looking for a joint venture partner for the initial purchase of two handysize dry cargo vessels. The total investment amounts to USD 50 million. USD 40 million by way of debt financing is arranged. The joint venture partner will bring USD 5 million.
The company, one of the largest in Eastern Europe with over 50 ships intends to expand its supply of handysize cargo vessels. The initial investment is for the purchase of two dry cargo vessels of approximately 25 - 35 000 DWT. A second stage is intended to proceed with the purchase of additional similar vessels. Participation in the second stage joint ventures can be negotiated.
The new build ship orders will be made in a well - known shipyard to secure for quality, efficient design, low maintenance and exploitation costs, refund bank guarantee and long term value.
The intention to invest now is the opportunity to take advantage of the weak commodity prices and the shipbuilding industry’s weak forward order-book by ordering these vessels at advantageous prices and terms, before ordering activity picks up in the coming two years. Shipbuilding prices are approximately 50% below their peak levels of 2007-2008, with many yards now short of orders for 2012 onwards.
Interested investor can contact us on Merar for more detailed information.