June 15, 2007
B+H acquires product tanker
B+H Ocean Carriers Ltd. (AMEX: BHO) has acquired a 1990-built double-sided 45,000 dwt product tanker. The vessel is expected to be delivered to the company in late June. It will be renamed CAPT. THOMAS J. HUDNER, JR., in honor of a retired U.S. Navy pilot and Congressional Medal of Honor winner for actions taken in the Korean War and one of 110 living holders of the Medal of Honor
The company added that it will initially fund the purchase with corporate cash, but intends to obtain bank financing thereafter. It said it "continues to seek investment opportunities it deems appropriate to present market circumstances."
B+H Ocean Carriers Ltd. owns and operates sixteen vessels including two IMO II/III product/chemical Carriers, five MR product tankers presently being converted to IMO II/III product/chemical status, two Panamax product tankers, one Aframax combination carrier and six product-suitable Panamax combination carriers.