M/MARITIME ENTERS INTO AN AGREEMENT TO ACQUIRE TWO MITSUI-BUILT ULTRAMAX VESSELS

On the 1st December 2020, M/MARITIME signed a Memorandum of Agreement for the acquisition of two Ultramax dry bulk vessels both built at Mitsui Engineering & Shipbuilding Shipyard in Japan in 2016. Upon delivery of these two ships, M/MARITIME will have four Ultramaxes built at Mitsui E&S Shipyard under the Company’s management. The vessels are expected to be delivered to M/MARITIME within the first quarter of 2021 and bring the Company’s fleet to a total of 19 vessels, 8 Ultramax, 7 Handysize and 2 Kamsarmax vessels together with 2, one Handysize and one Ultramax, vessels on long term period time charter.