NewLead Holdings Ltd. (Nasdaq:NEWL) announced its financial results for the second quarter and six months ended June 30, 2011. In July 2011, Newlead took delivery of the Navios Serenity, a new 35,000 dwt Handysize dry bulk vessel. This vessel has been chartered-out for an initial period of twelve years at a net daily charter-out rate of $10,100 for the first two years and $12,000 thereafter with profit sharing of 40.0% based on actual earnings above $14,000 per day. The charterers have a 50% purchase option. The vessel was financed through a combination of debt and cash from the balance sheet.

NewLead Holdings Ltd. operates as an international shipping company that owns and operates product tankers and dry bulk carriers. It operates in two segments, Wet Operations and Dry Operations.

Read the full article and the disclaimer at: http://drstockpick.com/?p=22337