UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE
ACT OF 1934
Dated: September 22, 2014
Commission File Number 001-32520
NEWLEAD HOLDINGS LTD.
(Translation of registrant’s name
into English)
NewLead Holdings Ltd.
83 Akti Miaouli & Flessa Str.
185 38 Piraeus Greece
(Address of principal
executive office)
Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes
¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes
¨ No x
On September 22, 2014, NewLead
Holdings Ltd. (the “Company”) announced that the “Newlead Castellano,” a 2013-built dry-bulk eco-type
Handysize vessel of 35,542 dwt, was delivered to the Company’s fleet on September 16, 2014. The Newlead Castellano is
trading on the spot market. The Company agreed to acquire this vessel for a purchase price of $19.5 million in December 2013,
as previously announced. A copy of the press release is furnished as Exhibit 99.1 to this Report on Form 6-K and is
incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized.
Date: September 23, 2014
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NEWLEAD HOLDINGS LTD. |
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By: |
/s/ Michail Zolotas |
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Name: Michail Zolotas |
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Title: Chief Executive Officer |
Exhibit 99.1
NewLead Holdings Ltd.
Announces
Delivery of the Third Eco-Type Handysize
Vessel since January 2014
PIRAEUS, Greece, September 22, 2014 - NewLead
Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today that the "Newlead Castellano",
a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLead's owned fleet on September 16, 2014.
The Newlead Castellano is trading on the
spot market and is expected to generate approximately $1.7 million EBITDA per year assuming $1.73 million yearly operating expenses.
The Newlead Castellano is the third modern
eco-type Handysize vessel to be delivered to NewLead's owned fleet since January 2014. NewLead had agreed to acquire this vessel
for a purchase price of $19.5 million in December 2013, as previously announced. The other two Handysize vessels, the Newlead Albion
and the Newlead Venetico, both of which the Company had agreed to acquire in March 2014, for a total acquisition price of $37.0
million, were delivered on May 19, 2014 and July 25, 2014, respectively, as already announced.
Mr. Michael Zolotas, Chairman and Chief
Executive Officer of NewLead, stated, “We are pleased to announce the delivery of the Newlead Castellano as scheduled. This
is the third modern and fuel efficient vessel to be delivered to NewLead's fleet in less than a year. Today, NewLead's fleet is
completely transformed and optimized. We have expanded our fleet by 85.7%, from two vessels to five vessels in less than one year.
Today, we have a total fleet of eight vessels, including three tanker vessels under management. The average fleet age of our owned
vessels is 8.53 years, reduced from 18.5 years at the beginning of this year."
Michael Zolotas, added, "We are accelerating
the execution of our strategy to rebuild our fleet while focusing on younger vessels to ensure a longer revenue capacity through
extended employment lifetime. We continue to capture on opportunities to grow our fleet to establish a strong platform ready to
benefit from market and industry opportunities."
Fleet Update
The
following table details NewLead's fleet as of September 22, 2014:
| 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 Vessels1 |
| Captain Nikolas I |
5,887 |
Chemical Tanker/Asphalt Carrier |
2009 |
| M/T Sofia |
2,888 |
Chemical Tanker/Asphalt Carrier |
2008 |
| Gema |
19,831 |
Oil Tanker |
2001 |
1. These vessels are under management
by Newlead Shipping SA
About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international,
vertically integrated shipping, logistics and commodity company. NewLead owns five dry-bulk vessels, two Panamax and three Handysize
vessels, and manages three third party tanker vessels, two small bitumen tanker vessels and one Handysize MR product tanker. Furthermore,
the Company owns a wash plant and a mine in Kentucky, USA and has been granted access to develop and mine another mine that includes
a CSX rail load facility, the Andy Rail Terminal, in Kentucky, USA. 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 the Company'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