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NewLead bags bitumen carrier COA

NewLead bags bitumen carrier COA
NewLead Holdings has inked a Contract of Affreightment (COA) for the first of five bitumen tankers the company recently acquired.

The contract for the 2009-bulit Katerina L is for a minimum of 31,000 tonnes of bitumen on 10 voyages and a maximum 49,600 tonnes over 16 voyages over 10 months to an undisclosed charterer.

The vessel will be trading the UAE and Mediterranean areas and the contract begins at the end of February.

"Our strong relationships with oil majors and specialized oil and bitumen trading companies allowed us to enter into the Contract of Affreightment for the transportation of all bitumen within a few months of the final delivery of all five bitumen tanker vessels,” said Michael Zolotas, chairman and ceo of NewLead.

The Katerina L is one of five bitumen carriers recently acquired by NewLead along with the 2009-built Captain Nikolas I, Nepheli and Ioli, and the 2008-built Sofia.