Two More CarVal Capesizes Join GoodBulk

Owner and operator of dry bulkers GoodBulk has added two more Capesize ships, which were earlier acquired from funds managed by CarVal Investors.

The company took delivery of the 2010-built Aquataine on February 20, 2018. The ship is the fifth to deliver of the seven initial Capesizes acquired from CarVal in late October 2017.

Built by Japan’s Imabari Shipbuilding, the 181,725 dwt vessel is on an index-linked charter with estimated redelivery date in the second quarter of 2018.

A day later, on February 21, GoodBulk took delivery of the 2006-built Aquascope, which is expected to be employed in the spot market via the Capesize Revenue Sharing Agreement managed by C Transport Maritime SAM (CTM).

The 174,008 dwt ship, which was built by China’s Shanghai Waigaoqiao Shipbuilding, is the fifth to deliver of six option Capesize vessels purchased from CarVal in late December 2017.

The ships were financed with a combination of cash on hand, availability under existing credit facilities, as well as the issuance of 1,378,000 and 831,008 new common shares, respectively, to funds managed by CarVal.

Upon delivery of the Aquataine and the Aquascope and the sale of the Aquabeauty (announced in the Company’s press release dated January 31, 2018), GoodBulk will have a fleet of 18 Capesize vessels, 1 Panamax vessel, and 2 Supramax vessels on the water, with an additional 3 Capesize vessels expected to be delivered within the beginning of the 2nd quarter of 2018.

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