The Seed Assets
The Initial Seed Asset Acquisition Agreements completed on 27 May 2021 and relate to 17 vessels being acquired for an aggregate consideration of US$182.8 million. The Remaining Seed Asset Acquisition Agreements comprising six vessels are currently expected to complete between July 2021 and February 2022 which would take the portfolio to 23 vessels.
There will be a variety of employment strategies, comprising short term Charters (less than 6 months), medium term Charters (more than 6 months) and long term Charters (greater than a year) which will benefit from staggered renewals, with a view to flattening the income curve. Furthermore, the Company’s Executive Team has maintained long-standing ties with a variety of blue-chip counterparties in the dry bulk trade. Diversification amongst these charter counterparties, including concentration limits, is a component of the Company’s risk management policy.