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Iason Hellenic Shipping Co. Ltd (IHS) announces its expansion into the Ultramax segment with the acquisition of a Crown 63 Super-eco type bulk carrier, M/V "Caravos Liberty".

In late 2012, we entered into a prompt resale agreement to acquire a 63,301 dwt Ultramax bulk carrier under construction at Dayang Shipbuilding of Sinopacific Shipbuilding Group in China. The vessel has been built under the close supervision of STCO-Paris, a division of Setaf-Saget of France.

IHS has successfully completed a debt capital raising for this acquisition through a syndicated loan facility, working closely with a major European ship finance originator and lender. On 7 February 2013, M/V Caravos Liberty was delivered to its new owners at a ceremony held at Dayang shipyard, attended by the Newbuildings team of IHS and led by Mr. Themistocles Al. Petrakis, Commercial Director of IHS.

On January 7, 2013 Iason Hellenic Shipping Co. Ltd (IHS) took delivery of M/V Caravos Harmony, an 81,631 dwt Kamsarmax bulk carrier which has been added to the fleet under management. The vessel was built at Zhejiang Ouhua Shipbuilding's Zhoushan Shipyard in Zhejiang province of the P.R of China.

The vessel flies the flag of the Republic of the Marshall Islands and is classed under the Registro Italiano Navale (RINA).

The delivery of Caravos Harmony marks the completion of the first phase of an ambitious newbuilding programme, booked in 2010 and supervised by IHS. This latest addition raises our total annual cargo carrying capacity to circa 2 million tones whilst rendering our fleet one of the most modern and economical within the segment they operate.

On April 20, 2012 Iason Hellenic Shipping Co. Ltd (IHS) took delivery of M/V Caravos Glory, an 81,672 dwt Kamsarmax bulk carrier which has been added to the fleet under management. The vessel was built at SPP Shipbuilding’s Sacheon shipyard in Korea, flies the Marshall Islands flag and is a sister ship to M/V Caravos Triumph delivered earlier this year.

This delivery signals our second vessel delivery for 2012, being part of a new building investment programme, established in 2010. Following completion of this programme, IHS will have reached a cargo carrying capacity of almost 2 million tonnes per annum whilst forming the basis for one of the most modern fleets in the industry.

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