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NewLead Sale & Leaseback

Not easily dissuaded, NewLead Holdings Ltd, despite disappointing efforts in the equity and Norwegian bond market, re-visited the sale and leaseback market announcing a transaction with Northern Shipping Funds. The latter acquired the Newlead Endurance, a 92,000 DWT Post-Panamax directly from a Korean shipyard at an undisclosed price. The seven-year bareboat charter-back to Newlead is at an undisclosed rate and includes a re-purchase option.

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Written by: | Categories: Freshly Minted, The Week in Review | June 30th, 2011 |

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