In last trading session, the stock price of NewLead Holdings Ltd (OTCMKTS:NEWLF) jumped 90% to close the day at $0.00019. There is no apparent news behind this strong move except that it is a company active in the shipping sector, which has seen positive momentum after the election of Donald Trump as the U.S. President.
The update
NewLead Holdings published its last PR in October wherein it stated confirmed the resignation of Michail S. Zolotas from his role as President, CEO and also as Chairman of the Board for personal reasons. Zolotas continues to be the principal shareholder of company. Mrs. Anna Zolota will serve as the new CEO, President of the company, and also Chairman of the Board.
Mrs. Zolota is associated with the company since 2009. She joined the firm as Senior Insurance Officer and Senior Commercial Officer, after extensive experience in the shipping industry. Mrs. Zolota initially served as the NewLead’s VP of the Commercial Department.
Commenting on the new responsibility, Mrs. Zolota said that NewLead remains to strengthen its ability to work in today’s tough shipping market conditions. They will carry-on improving the firm’s platform to support company’s growth, through a committed team of people who assure the comprehensive efficient performance of vessels, benefitting from long-standing associations across the board and adapting to today’s challenging times for the international shipping industry.
In other news, the company highlighted the capabilities of its bitumen tanker segment, and its performance in last one year. Operating revenues from the bitumen tanker vessels operations was nearly $15.7 million for the fiscal closed December 31, 2015. Last year, the company transported 515,219 tons bitumen produced by oil refineries across the globe via some of the most challenging trade routes.
NewLead manages a fleet of 5 premium bitumen tanker vessels, summing 18,918 dwt with an existing average age of 7.2 years. Bitumen fleet utilization in FY2015 stood at 92.7%. The management reported that they were thrilled with the performance of bitumen tanker segment and YoY jump in operating revenues in the respective segment.
