Bulk Carrier Charter Agreement With Morgan Stanley Capital Group

(Press Release)
Thursday, December 22, 2011
Paragon Shipping Inc. (NYSE: PRGN) entered into a fixed rate time charter agreement for its Panamax Vessel, M/V Coral Seas, with Morgan Stanley Capital Group Inc.  The M/V Coral Seas, a 2006 build, 74,477 dwt Panamax bulkcarrier, has been fixed to Morgan Stanley Capital Group Inc. for a period of 23 to 25 months at a gross daily rate of $12,000. In addition, the Charterers have an option to extend the charter period for an additional 11 to 13 months at a gross daily rate of $14,500. As a result, the Company’s fixed revenue days have now increased to 89% from 84% in 2012, to 66% from 59% in 2013 and to 37% from 30% in 2014 based on latest redelivery dates. 
 
Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

Rolls Royce Marine Awarded LCS Engine Repair Contract

U.S. Department of Defense informs that Rolls Royce Marine North America, Walpole, Massachusetts, is being awarded a US$9,000,000 firm-fixed-price repair order

ABS President Wiernicki Signs New MARAD Agreement

The American Bureau of Shipping (ABS) informs that it has entered into a new Memorandum of Agreement (MOA) establishing the policies and procedures regarding the

Bulk Carrier Trends

Redwood City Sees Cargo Movement Boost

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction

Nordic American Offshore Declares 2Q Dividend

Nordic American Offshore Ltd. announced that its Board of Directors has declared a dividend of $0.45 per common share for the second quarter 2014. This is the same as for the first quarter 2014.

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0956 sec (10 req/sec)