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It has closed a $25 million sale and bareboat agreement through its wholly owned subsidiary, Paralus Shipholding S.A., with an unrelated Japanese third party, with respect to the approximately 64,000 dwt bulk carrier "GLBS Magic" which was delivered from its builder, the Nantong Cosco Khi Ship Engineering Co., Ltd. shipyard in China on September 20, 2024.
At the end of the ten-year period, the Company has an obligation to buy back the vessel at a purchase price of $15.40 million, if not purchased earlier. The sale and bareboat charter back transaction closed on December 23, 2024. The bareboat charter contains certain covenants and agreements customary for financing agreements of this type.
Posted In: GLBS
