New Vessel Acquisition
On 30-Sep-2005, Dundee Shipping funded and closed the acquisition of a 1984 rebuilt, 185 foot, 3,500 HP platform supply vessel (the Dundee). The Company originally agreed to acquire the vessel in a binding sale and purchase agreement executed in July 2005. Dundee Shipping will operate the vessel in partnership with a local operator and will initially focus on short-term spot market contracts. For additional details on this vessel, please see the "Fleet Details" section of this web site.