Transformed

The shipowner, formerly known as Aries, has transformed itself and in our estimation has achieved critical mass. It may be small cap by definition but its growth trajectory is unparalleled. Since the company began the process of recapitalizing in the 4th quarter of last year, NewLead Holdings Ltd has acquired 17 new vessels, including five newbuildings, while divesting inefficient non-core vessels and exiting the container sector. Unlike its peers, it has adopted a strategy of focusing on two diverse sectors, dry bulk and product tankers, rather than being a pure play, thereby minimizing to an extent portfolio risk.

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