GoodBulk Takes Delivery of First CVI Bulker

Bermuda-incorporated owner and operator of dry bulk vessels GoodBulk has taken delivery of Aquarange, a 2011-built Capesize vessel. 

The 179,842 dwt bulker, previously known as RS Iron Range, was purchased by GoodBulk from CarVal Investors (CVI), an investment arm of Cargill, on October 26.

As explained, the ship is one of seven Capesize bulk carriers acquired from funds managed by CVI and was financed with a combination of cash on hand, availability under existing credit facilities, and the issuance of new common shares.

The vessel will be employed in the spot market via the Capesize Revenue Sharing Agreement (Capesize RSA) managed by C Transport Maritime SAM (CTM), GoodBulk said.

Including Aquarange, GoodBulk currently has an on the water fleet of ten Capesize, one Panamax and two Supramax vessels operating in the spot market, with an additional six Capesize vessels to be
delivered between the fourth quarter of 2017 and the first quarter of 2018.

The company has an option to acquire an additional six Capesize vessels from funds managed by CVI.

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