30th Mar 2015 09:01
LONDON (Alliance News) - Marine transportation services company Hellenic Carriers Ltd on Monday said its Arkadia Maritime Corp subsidiary has sold the M/V Hellenic Horizon vessel for USD3.8 million and it will book a loss on the sale.
Hellenic said the vessel has been sold to an unaffilated third party and said the consideration will be met in cash. It will use the proceeds to repay bank debt and strengthen its balance sheet.
Taking into account the net book value of the vessel and expenses related to the sale, Hellenic said it will book a USD3.9 million loss on the sale.
Shares in Hellenic were up 6.8% to 17.07999 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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