Limarko laivininkystės kompanija AB concluded the Memorandum of Agreement for the sale of motor vessel “URANUS”. The vessel shall be handed over to the buyer in China at the end of August 2012.
The vessel is being sold due to her inefficient performance. Moreover, in October 2012 vessel‘s classification document will expire and the extension of them would require substantial investments in the dry-docking of the vessel.
Due to ongoing difficult economic situation in Shipping sector the vessels’ prices have reduced. Therefore, the vessel is being sold for less amount than her book value, which is in excess of 1/20 Company’s authorised capital. The terms of vessel’s sale and purchase agreement are confidential.
The proceeds from sale will be used to prepay the loans and for general working capital purposes.
Mindaugas Petrauskas
Executive Director
Tel. +370 46 340001 ext. 713