Talis Capital has made another addition to the Project Blueline fleet, with the acquisition of a 2010 built, 24,000 DWT handysize bulk carrier.
The second vessel acquisition of 2014 brings the Blueline fleet to a total of five vessels with over 67,000 deadweight tonnage.
The addition of this larger vessel provides further diversification for the underlying investors, who are benefitting from a mid-double digit unlevered yield, paid on a quarterly basis.
Drawing upon over 17 years of shipping experience, Talis Capital is working in close partnership with INTRESCO Ltd. As one of the leading full service ship management companies, Vienna-based INTRESCO will be providing full commercial, technical and crew management services to this vessel.
Vasile Foca, director and co-founder of Talis Capital, says: “Since the first vessel acquisition eleven months ago, excellent progress has been made towards building a modern fleet of handy bulkers. With new investor commitments in place, we anticipate further fleet growth throughout 2014.”
Matus Maar, director and co-founder of Talis Capital, says: “Investors have been pleased with the high yield Blueline is providing on a quarterly basis, and we expect this latest acquisition will complement the existing fleet. Diversification of earnings across vessels is key for our investors, and we look forward to further expanding the fleet later this year.”
Nikolay Ostapov, managing director and co-founder of INTRESCO, says: “This modern, well-equipped handy is well placed to meet the growing demand we see in the dry bulk market. We are pleased to again strengthen our commercial partnership with Talis Capital, and look forward to further cooperation later this year.”
