Int'l Shipholding (ISH) Acquires 1999-Built PCTC in $31M Deal
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International Shipholding Corporation (NYSE: ISH) announced the purchase of a 1999-built Pure Car Truck Carrier (PCTC). The vessel acquisition was funded by a $3.5 million cash payment and the sale of the Company’s 1994-built PCTC, Green Cove, to the seller in a transaction valued at approximately $27.5 million.
The newly purchased PCTC, which will be reflagged under the U.S. Flag and renamed Green Cove, will promptly commence a long-term charter with a strong, creditworthy counterparty.
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The newly purchased PCTC, which will be reflagged under the U.S. Flag and renamed Green Cove, will promptly commence a long-term charter with a strong, creditworthy counterparty.
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