Posted by Kevin Scully
Atlantic Navigation, one of my new Stock Picks, has announced that it will acquire two new vessels for US$28.7mn.
These acquisitions are important as Atlantic's current utilisation rate is in excess of 90% so it wil be hard to drive revenue and profit growth from just charter rate renewals. One vessel is due for delivery in 2014 and the second in 2015. No impact from the acquisitions on 2013 earnings which remain intact.