Boston Carriers Inc (OTCMKTS:BSTN) witnessed a much needed +40% jump today. The shipping company has come out of dormancy, as BSTN has been relatively flat-lined since May.
In all honesty, BSTN has not released legitimate press in some time, but it seems like the spot voyage contract the company inked a few months ago is starting to draw attention. Per the deal, the Nikiforos, a member of BSTN’s fleet, entered a spot voyage contract to transport approximately 33,000 tons of dry bulk cargo from South America to Middle East. The contract upon successful completion is expected to contribute approximately 1,360,000 USD in the revenues of the Company.
Boston Carriers Inc (OTCMKTS:BSTN) formerly Integrated Inpatient Solutions, Inc., is an international, shipping company. The Company is engaged in providing solutions for seaborne transportation of dry bulk commodities through owned and managed fleet around the world. BSTN focuses on carrying on the business of maritime transportation. The maritime transportation business is based in Athens, Greece and is an integrated dry bulk shipping company. The Company focuses on owning, operating and managing a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. As of March 31, 2016, the Company’s fleet included a Handymax vessel, Nikiforos, to spot voyage charters. Poseidon Navigation Corp. is the Company’s subsidiary.
BSTN, according to company documents, is an international shipping company providing ideal solutions for seaborne transportation of dry bulk commodities through owned vessels
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As previously announced on February 22, 2017 Nikiforos has entered into a spot voyage contract for transporting approximately 40,030 tons of dry bulk cargo from Middle East to Subcontinent. The short voyage has successfully been completed and contributed approximately 708,000 usd in the revenues of the company. Immediately following the completion of the voyage Nikiforos entered into a further short term time charter contract for transporting approximately 32,000 tons of steel coils from Subcontinent to south-east asia which upon successful completion is expected to contribute approximately 160,000 usd in the revenues of the company for a period of 20 days.
Mr. Antonios Bertsos, Chairman and Chief Executive Officer, stated, “Boston’s short term employment strategy allows the Company to capture any potential upside that arise in the dry bulk market.”
Mr. Antonios Bertsos, added, “We believe in the dry bulk sector and will attempt to continue to grow our fleet with additional dry bulk Handysize-Handymax vessels.”
Boston Carriers Inc (OTCMKTS:BSTN) has a market cap of $63,381 and 3.06M shares. BSTN represents a value play here and could make a run on and off this week. We see an interesting story here ahead and will be updating readers as this stock moves. Sign-up for continuing coverage on shares of $BSTN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $BSTN, either long or short, and we have not been compensated for this article.