Delivery of M/V Bulk Monaco & GoodBulk Dividend Distribution

Delivery of M/V Bulk Monaco

CTM is pleased to announce that yesterday, 12 June 2023, one of our clients took delivery of the M/V Bulk Monaco, a newbuilding Ultramax bulk carrier of 63,733 dwt built at Imabari shipyard. The vessel was acquired by a client of ours from a local Japanese owner as a resale last year and will trade in CTM’s Supramax Revenue Sharing Agreement alongside circa 60 other vessels. The ceremony was attended by our Sale and Purchase Director Mr. Paolo de Benedictis, his wife Mrs. Marina de Benedictis and members of our Operations and Technical departments.

The vessel contributes to the rejuvenation of CTM’s fleet and our alignment with global decarbonization efforts so that we can continue to provide our clients with our leading services for years to come. CTM currently has around 150 bulk carriers under our Commercial and Technical management from Handysize up to Newcastlemax.

GoodBulk Ltd Dividend Distribution

In other news yesterday NOTC-listed GoodBulk Ltd., a CTM managed company, announced a dividend distribution of an additional $1.90 per common share payable on 29 June 2023. GoodBulk’s cumulative distributions to its investors will have amounted to $18.49 per share (for a total of $538 million) since inception in late 2016 amounting to 168.1% of the price of the Company’s March 2017 Norwegian OTC initial offering and 184.9% of the price of the Company’s initial December 2016 private placement fully repaying the original founders of the Company in cash plus a 84.9% return.

Find out more about the Supramax RSA here:

Find out more about GoodBulk Ltd. here:


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