Stelmar Announces Two Time Charter Contracts

Thursday, August 15, 2002
Stelmar Shipping Ltd. announced that it has signed the Aquamar and the Maremar, two modern double hull Handymax vessels purchased from the proceeds of the company's recent offering, to profitable time charter contracts. Both tankers currently trade in the spot market and are expected to be deployed on these time charters during the second half of August 2002. The Aquamar, a 1998 double hull product tanker delivered on July 15, 2002, has been signed to a two-year time charter with Amerada Hess Shipping Corporation USA at a rate of $13,500 per day. Stelmar also announced that it has signed the Maremar, a 1998 double hull product tanker and sister ship to Aquamar, to a six-month charter with ST Shipping at $13,500 per day. The Maremar was delivered to Stelmar on June 27, 2002. Peter R. Goodfellow, chief executive officer and president said, "Our strategy of signing profitable contracts for our vessels is enabling us to enhance Stelmar's earnings visibility and achieve high utilization rates in a challenging environment. With these most recent contracts, Stelmar has signed profitable time charters for all nine vessels it has received delivery of in 2002." Goodfellow continued, "Including these two new contracts, Stelmar has secured more than 84 percent of the net operating days of its fleet on profitable time charters for 2002 and 50 [ercemt for 2003, equivalent to $137 million and $93 million respectively. For 2004, the Company has secured more than 27 percent of the net operating days of its fleet on profitable contracts, equivalent to $58 million. We remain committed to signing additional profitable contracts to increase our earnings visibility in this challenging market."
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Electronics Retrofit for Taiwanese Research Vessel

L-3 SAM Electronics has been awarded a contract to retrofit propulsion control and automation systems aboard the Taiwanese Navy’s Ta Kuan hydrographic and oceanographic research vessel.

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

Van Oord, Falck Ink Safety Training Deal

Van Oord has signed a two year contract with Falck Safety Services for the provision of safety training.   Van Oord, a contractor for dredging, marine engineering and offshore energy projects,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.4816 sec (2 req/sec)