Boston Carriers is doubling the size of its owned fleet, buying a handymax bulker in a cash, shares and bareboat charter transaction.
The shipowner confirmed it has entered into a contract to acquire a 1996-built, 46,000-dwt bulker. However, the name of the ship was undisclosed.
Boston said it will provide a down payment of $500,000 together with the issuance 10m shares, restricted for four years, at a price of 5 US cents per share prior to delivery.
