GoodBulk Ltd. Announces Delivery of Capesize Vessel

GoodBulk Ltd. Announces Delivery of Capesize Vessel

GoodBulk Ltd. Announces Delivery of Capesize Vessel

Hamilton, Bermuda – (January 10, 2018) – GoodBulk Ltd. (“GoodBulk” “Company”) (N-OTC: BULK) an owner and operator of dry bulk vessels announced today that it took delivery of the Aquaenna, a 2011 built Capesize vessel of 175,975 dwt built by Jinhai, CHN, on January 9, 2018. The purchase, which is the first to deliver of six option Capesize vessels acquired from funds managed by CarVal Investors (“CarVal”) on December 20, was financed with a combination of cash on hand, availability under existing credit facilities and the issuance of 240,494 new common shares to funds managed by CarVal. Following the share issue to CarVal the Company will have 17,463,541 outstanding common shares. The vessel is currently employed on an index-linked charter until the end of the 1st quarter of 2018.

Including the Aquaenna, GoodBulk currently has a fleet of 12 Capesize vessels, 1 Panamax vessel, and 2 Supramax vessels on the water operating in the spot market, with an additional 10 Capesize vessels expected to be delivered in the 1st quarter of 2018.

About GoodBulk Ltd.

GoodBulk, incorporated in Bermuda and headquartered in Monaco, is an owner and operator of dry bulk vessels formed in December 2016 for the purpose of owning high quality second hand dry bulk vessels between 50,000 – 210,000 DWT. Designed to provide an efficient vehicle for investors to access the dry bulk market, all assets are externally managed by C Transport Maritime S.A.M. a leading third-party manager of dry bulk vessels. GoodBulk is listed on the Norwegian OTC market under the symbol BULK.

Company contact:
Andrew Garcia
President and Director
GoodBulk Ltd.
+377 97 98 59 87
ag@goodbulk.com

GoodBulk