Genco to Sign Time Charters for Drybulk Vessels

Friday, December 15, 2006
Genco Shipping & Trading Limited announced it has reached an agreement in principle to enter into a time charter for the Genco Carrier, a 1998-built Handymax vessel, with Pacific Basin Chartering Ltd. The Company also reached an agreement in principle to extend the time charter for the Genco Wisdom, a 1997-built Handymax vessel, currently on charter with Hyundai Merchant Marine Co., Ltd. Both time charters would be for eleven to thirteen months at a rate of $24,000 per day, less a 5% third party

The company also announced that it has reached an agreement in principle to commence a new time charter with Baumarine AS for the Genco Trader, a 1990-built Panamax vessel for ten to twelve months at a net rate of $25,750 per day, equivalent to a gross rate of approximately $27,105. Since December of 2005, the vessel traded in the Baumarine Pool, a spot pool of approximately 45 vessels. The time charters for the Genco Trader and the Genco Wisdom are expected to commence on or about December 23, 2006 and January 14, 2007, respectively. The time charter for the Genco Carrier is expected to commence following the expiration of its current time charter. All three time charters are subject to the completion of definitive agreements.

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Mercury Marine Begins HQ Expansion

Mercury Marine announces 45,000 square foot EDP parts expansion to Fond du Lac global headquarters   Mercury Marine will add a 45,000 square foot expansion to

Scandlines Orders Ferry Battery System

Corvus Energy announces the signing of marine Energy Storage System (ESS) contract with Scandlines Denmark ApS; world’s largest battery hybrid electric fleet orders additional 2.

New Dry Bulk Facility at Khalifa Port

New AED 20 million facility will pack and transport dry bulk products for petrochemical and mineral manufacturers    Abu Dhabi Ports celebrated the groundbreaking

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | 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: 0.2301 sec (4 req/sec)