NewLead Holdings of Greece has struck a $148m contract to supply and deliver steam coal in a move that appears to hinge on a successful debut in the mining sector.
Nasdaq-listed NewLead on Tuesday said it hopes to rely on its own bulkers to service the deal but admitted it may be forced to charter-in tonnage.
In a statement the company described the buyer as a “credit worthy counterparty” and indicated the initial sale of 130,000 metric tonnes of coal would commence in March.
NewLead
