PIRAEUS, Greece, March 3, 2015 /PRNewswire/ -- NewLead Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation, anticipated to be completed within a twelve month period, of approximately 704,000 tons of aggregates over eleven consecutive voyages.

https://photos.prnewswire.com/prnvar/20150303/179145LOGO

The Newlead Markela will be trading in the Arabian Gulf and the first shipment is scheduled to commence during March 2015.

Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "We have succeeded in securing solid employment of the Newlead Markela for the year 2015 while the dry bulk market is at historical lows. We intend to capitalize on our strong commercial relationships with charterers and trading companies to capture trading opportunities despite unfavorable market conditions in the dry bulk sector. We continue to optimize the employment of our fleet and enhance the revenues and cash flow of the Company."

Mr. Zolotas added, "Our strategy for 2015 is to continue to grow our fleet while taking advantage of market opportunities."

Newlead has approximately 43.2% and 45.4% of its operating days covered for 2015 for the dry bulk and tanker vessels, respectively, with the Newlead Victoria and the Nepheli on a period time charter until June 2018 and July 2015, respectively, and the rest of the Company's fleet trading on the spot market.

Fleet Update
The following table details NewLead's fleet as of March 2, 2015: 



             Vessel Name Size (dwts)               Vessel Type            Year Built
             ----------- ----------                -----------            ----------

    Dry Bulk Vessels
    ----------------

    Newlead
     Castellano                    35,542        Eco-type Handysize                 2013
    -----------                    ------        ------------------                 ----

    Newlead
     Albion                        32,318        Eco-type Handysize                 2012
    -------                        ------        ------------------                 ----

    Newlead
     Venetico                      32,500        Eco-type Handysize                 2012
    ---------                      ------        ------------------                 ----

    Newlead
     Victoria                      75,966             Panamax                       2002
    ---------                      ------             -------                       ----

    Newlead
     Markela                       71,733             Panamax                       1990
    --------                       ------             -------                       ----

    Tanker Vessels
    --------------

    Captain
     Nikolas I                      5,887 Chemical Tanker/Asphalt Carrier           2009
    ----------                      ----- -------------------------------           ----

    Katerina L                      3,357 Chemical Tanker/Asphalt Carrier           2009
    ----------                      ----- -------------------------------           ----

    Nepheli                         3,416 Chemical Tanker/Asphalt Carrier           2009
    -------                         ----- -------------------------------           ----

    Ioli                            3,396 Chemical Tanker/Asphalt Carrier           2009
    ----                            ----- -------------------------------           ----

    /T Sofia                        2,888 Chemical Tanker/Asphalt Carrier           2008
    --------                        ----- -------------------------------           ----

    Gema(1)                        19,831            Oil Tanker                     2001
    ------                         ------            ----------                     ----

1. This is a third party vessel under management

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international vertically integrated shipping, logistics and commodity company providing ideal solutions for seaborne transportation of dry bulk commodities and petroleum products through owned and managed vessels. NewLead controls a fleet of ten vessels, including five dry-bulk and five tanker vessels and manages one third party tanker vessel. NewLead is a Securities and Exchange Commission ("SEC") reporting Foreign Private Issuer in compliance with applicable SEC rules and regulations and current in its SEC reporting, utilizing U.S. Generally Accepted Accounting Principles' financial reporting standards. NewLead's common shares are traded under the symbol "NEWL" on the Over-the-Counter market. To learn more about NewLead Holdings Ltd., please visit NewLead's website at www.newleadholdings.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This press release includes assumptions, expectations, projections, intentions and beliefs about future events. These statements, as well as words such as "anticipate," "estimate," "project," "plan," and "expect," are intended to be ''forward-looking" statements. We caution that assumptions, expectations, projections, intentions and beliefs about future events may vary from actual results and the differences can be material. Forward-looking statements include, but are not limited to, such matters as the creditworthiness of our counterparties, the reliability of reserve reports, our ability to extract or acquire coal to fulfill contracts, the consummation of conditional contracts, future operating or financial results; our liquidity position and cash flows, our ability to borrow additional amounts under our revolving credit facility and, if needed, to obtain waivers from our lenders and restructure our debt, and our ability to continue as a going concern; statements about planned, pending or recent vessel disposals and/or acquisitions, business strategy, future dividend payments and expected capital spending or operating expenses, including dry-docking and insurance costs; statements about trends in the product tanker and dry bulk vessel shipping segments, including charter rates and factors affecting supply and demand; expectations regarding the availability of vessel acquisitions; completion of repairs; length of off-hire; availability of charters; and anticipated developments with respect to any pending litigation. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although NewLead believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, NewLead cannot assure you that it will achieve or accomplish these expectations, beliefs or projections described in the forward looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter rates and vessel values, failure of a seller to deliver one or more vessels, and other factors discussed in NewLead's filings with the U.S. Securities and Exchange Commission from time to time. NewLead expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in NewLead's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Investor and Media Relations:
Elisa Gerouki
NewLead Holdings Ltd.
Telephone: + 30 213 014 8023
Email: egerouki@newleadholdings.com

Logo - http://photos.prnewswire.com/prnh/20150303/179145LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/newlead-holdings-announces-contract-of-affreightment-for-newlead-markela-300044394.html

SOURCE NewLead Holdings Ltd.