Newlead Modernizes Its Fleet

first_imgzoom A 2012-built dry-bulk eco-type Handysize vessel of 32,318 dwt, Newlead Albion was delivered to NewLead Holdings’ fleet on Monday, May 19, 2014.Newlead Albion is trading on the spot market and is expected to generate $2.0 million EBITDA per year assuming $1.73 million yearly OPEX.The vessel is one of the two eco-type ships that the company agreed to acquire in March 2014 for a total acquisition price of $37.0 million, $18.5 million each. Today, the market value of these vessels is estimated to be approximately $20.25 million each. The second vessel is expected to be delivered to NewLead’s fleet, as scheduled, in July 2014.The company financed the Newlead Albion through a combination of cash and external financing. Specifically, in March 2014, the company paid a deposit of $1.85 million in cash, and the remaining balance was paid through the combination of cash and 75% financing in a transaction arranged by Pareto Project Finance AS and supported by strong institutional investors.Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, “We are modernizing our fleet with fuel efficient vessels. The fleet age is being optimized, and employment lifetime is substantially longer. NewLead expects to have three new modern Handysize vessels added to its fleet by the end of August 2014“. May 20, 2014last_img read more

Training sessions scheduled for new human resources system

With the July 1 launch of Brock’s new human resources system just weeks away, training sessions are planned to help ensure employees are prepared.Project Mosaic, the team behind Workday HR, has been busy creating employee training sessions that will address key Workday functions such as recruiting, entering time worked, requesting time off and direct access to employee information.Scheduled throughout the month of June, sessions will be offered for employees, managers and individuals who facilitate or lead recruitment.Employees can expect to receive an email that lists the sessions they should register for, depending on their role at Brock.More information can be found on the Workday SharePoint site, including session descriptions, recommended course schedules and how to register.Brock’s Department of Human Resources thanks everyone who has attended information sessions, participated in user acceptance testing and provided feedback. read more