Greece: NewLead Holdings Receives New Addition in Its Fleet

NewLead Holdings Ltd., an international shipping company owning and operating tankers and dry bulk vessels, announced that on November 10, 2011, the “Newlead Gujarat,” a new geared Kamsarmax dry bulk vessel of 79,263 dwt, was delivered from Cosco Dalian Shipyard Co. to NewLead’s fleet.

The “Newlead Gujarat” is the second geared Kamsarmax that NewLead built at Cosco Dalian Shipyard Co.

Michael Zolotas, president and chief executive officer of NewLead, stated, “We are pleased to have taken delivery of a geared Kamsarmax as part of NewLead’s newbuilding program. Despite the difficult market conditions, we continue to work closely with our lenders to deliver on our commitments.”

About NewLead Holdings Ltd.

NewLead Holdings Ltd. is an international, vertically integrated shipping company that owns and manages product tankers and dry bulk vessels. NewLead currently controls 20 vessels, including six double-hull product tankers and 14 dry bulk vessels of which one is newbuilding.

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WMN Staff, November 15, 2011; Image: NewLead Holdings