Fourth CarVal Capesize Joins GoodBulk

Owner and operator of dry bulkers GoodBulk Ltd. took delivery of the 2012-built Capesize vessel Aquahaha on February 15, 2018.

Constructed by Hanjin Heavy Industries and Construction Philippines (HHIC Phil), the 179,023 dwt ship is the fourth to deliver out of seven initial Capesize vessels acquired from funds managed by CarVal Investors.

The ship was financed with a combination of cash on hand, availability under existing credit facilities and the issuance of 1,379,560 new common shares to funds managed by CarVal.

Aquahaha is on a fixed-rate charter with estimated redelivery date towards the end of the first quarter of 2018.

The latest fleet addition pushed GoodBulk’s fleet to 16 Capesize vessels, 1 Panamax vessel, and 2 Supramax vessels on the water, with an additional 5 Capesize vessels expected to be delivered within the beginning of the second quarter of 2018.

On February 14, 2018 the company completed a third closing of the December 20, 2017 rights
offering issuing 329,775 common shares for gross proceeds of over USD 5 million.

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