As at 31 December 2016, the Group had vessel
commitments of US$119.1 million. These vessels are
scheduled to deliver to the Group between January 2017
and May 2017.
These commitments, along with future potential vessel
acquisitions, will be financed by a combination of cash
generated by the Group’s operations, existing cash and
committed long-term borrowings.
At 31 December 2016, the Group had options to purchase
11 Handysize, 3 Supramax and 1 Post-Panamax vessels
at predetermined times and prices during the period of their
leases. These options are not expected to be exercised
under the current market conditions.