Jul. 30 at 12:09 PM
$ASC 3 new vassels!!! The Company agreed to acquire three modern, high-quality, Korean-built MR tankers in two separate transactions for an aggregate purchase price of
$103.9 million; one 2020-built scrubber-installed vessel for
$38.3 million and two 2017-built vessels for
$32.8 million each. Deliveries of these vessels are expected to be completed during the quarter ending September 30, 2025 and will be financed by cash on hand and revolving credit facilities, maintaining a modest leverage level while lowering average fleet age.
50m net cash and only 25m debt!
This company will increase revenues and profits quickly in the coming 2 quarters!