Nasdaq-listed NewLead is set to buy two modern panamaxes having lined up funding for the ships.
The Greek owner tells investors a term sheet has been secured to cover 75% of the $35m eco vessels.
Michael Zolotas, chairman of NewLead, said: "We are pleased to bring into NewLead the opportunity to acquire two more dry bulk panamax vessels.”
Details of the ships, which will take the rebuilding owner’s fleet of bulkers to seven, have not been disclosed.
