Newlead Holdings Ltd. (fka NEWLF)

[Scud_amateur]

Be careful with this approach of China Business Connection as it is not as it may appear as an overview.

NEWL ships are on spot charter and these are fixed by their brokers to get maximum freight and minimum time in ballast. Therefore if they are trading in the Far East, unless they get a fixture to other parts they would trade here. Maple Cystal is mainly a Log / Forest Product carrier by design and thus not necessarily be dedicated for coal business. Anyways as long as they get cargo on good rates they are profitable.

Buying ships from Maple Leaf has also nothing to do with Chinese business association of NEWL. Maple Leaf is a subsidiary of Taizhou Maple Leaf shipbuilding Co which buys and manages ships which owners may have often defaulted during new building stage like NEWL defaulted few years ago. Coincidentally NEWL defaulted for these two deliveries (Maple Crystal & Maple Amethyst/Newlead Albion) as their hull nos.are same as mentioned on one of the old NEWL 20-F.