The Greek company NewLead Holdings Ltd announced the plans to sale two of its product tankers – Hiona and Hiotissa. The total price of the deal will be about 57.0 million USD, which will cover the debt of 18.1 million USD, which the company has. NewLead Holdings Ltd made an agreement with Piraeus Bank SA to released from all obligations and to make full restructure. The financial crisis and the debt crisis in Greece collapsed the cargo market and the maritime transport, so many companies are forced to sell their activities, such as NewLead Holdings Ltd. The deal is expected to finish in the third quarter of 2012 and will save the company from bankruptcy, in spite of the decreased fleet, which the company will have. NewLead Holdings Ltd owns four cargo ships – two product tankers (Hiotissa and Hiona) and two dry bulk carrier (Newlead Victoria and Newlead Markela). Also the company has one new product tanker will be completed in the end of 2012 and rest of the funds from the sale will be invested into the payment of the new ship.
The product tanker Hiotissa is vessel built in 2004 in Hyundai Mipo Dockyard in Ulsan, South Korea. The ship has length of 283.00 meters, beam of 26.00 meters and draft of 10.9 meters. The vessel has summer deadweight of 37,389 DWT and gross tonnage of 23,240 GRT.
The other vessel Hiona is tanker with length of 161.00 meters, beam of 24.00 meters and draft 9.70 meters. The summer deadweight of the ship is 23,892 DWT and the gross tonnage is 14,135 GRT. The ship was built in 2003 by Imabari Shipbuilding in Japan.