Sector Wrap NEWL Decline 9.40%.

Los Angelas, CA -- (SBWIRE) -- 01/23/2013 -- NewLead Holdings Ltd. (NASDAQ:NEWL) is an international shipping company, which is engaged in the transportation of refined products, such as gasoline and jet fuel, and dry bulk goods, such as iron ore, coal and grain. It owns and operates fleet of dry bulk carriers and double-hull product tankers. NewLead Holdings provides ideal solutions for sea transportation requirements and play a significant role in meeting the worldwide demand for distribution of petroleum products and dry bulk commodities.

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NewLead Holdings Ltd. (NASDAQ:NEWL) closed the day with a deficit of 10.07% to a market valuation of $1.34 per share, following news that the Company has announced that Michael Zolotas, the President and Chief Executive officer of NewLead Holdings, will be taking on the role and responsibilities of Chairman of the Company, in lieu of the recent resignation of Nicholas Fistes as Chairman and Director of the Company.

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NewLead Holdings Ltd. (NASDAQ:NEWL) : Michael Zolotas, the chairman, president and chief executive officer of NewLead has commented, “I would like to thank Nicholas Fistes for his valuable contribution to the Company and wish him success in his future endeavors.” NewLead Holdings Ltd. engages in the ownership and the management of product tankers and dry bulk vessels around the world. NewLead Holdings Ltd. is located in Piraeus, Greece. Get The Latest On NEWL Here. Shares of NewLead Holdings (NasdaqNM:NEWL) are trading at $1.35 and is +89.25% from its 50-day Moving Average price of $0.7133 and +87.71% from its 200-day Moving Average price of $0.7192. The average trading volume is 400852 shares and its market capitalization is $26.9M.

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