Announcement

Voyageur Marine's two principal shareholders decided to divest their ownership position in the Voyageur Group of Companies, effective August 27, 2007; we completed the sale of two of the vessels owned by the Voyageur Group: (1) the Voyageur Pioneer, and (2) the Voyageur Independent. We sold the vessels to Lower Lakes Towing Ltd ⇒.

---

The company founders and only remaining shareholders continue to own the Voyageur Group's other remaining vessel, the Maritime Trader. In addition to the sale of the two vessels, the company entered into a Contract of Affreightment with Lower Lakes, which has an initial expiry date of December 31, 2011.

---

Contract of Affreightment

Under the Contract of Affreightment, the Company has given to Lower Lakes the exclusive right to market the vessel Maritime Trader on behalf of Voyageur. Also included in the Contract is a guarantee by Lower Lakes back to Voyageur to provide the vessel with enough cargo, which will effectively employ the vessel throughout the entire sailing season.

top ↑

site search