Looks like they are in danger of losing the Newlead Markela! Not surprising, they lost 11 ships in 2011 :)
Fleet
As of May 12, 2015, we control a fleet of five dry bulk vessels, which includes three Handysize and two Panamax vessels, and five oil tanker/asphalt carriers. The asphalt carriers are also commonly known as bitumen tanker vessels.
We continue to negotiate with Piraeus Bank A.E. (as the successor of Cyprus Popular Bank Public Co. Ltd. (formerly, Marfin Egnatia Bank S.A.) the “Piraeus Bank (CPB loan)”) to amend the terms of our loan agreement in order to amend and restate such agreement to enable us to regain compliance, with certain of its covenants and to be able to do so on an ongoing basis to allow and enable the Newlead Markela, one of the two dry bulk Panamax vessels, to remain in our fleet.
