Genco Shipping Time Charters

Friday, June 05, 2009

Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to enter into a time charter for the Genco Commodus, a Capesize newbuilding, with Morgan Stanley Capital Group Inc. for 23 to 25 months at a rate of $36,000 per day, less a 5% third-party brokerage commission. The time charter for the Genco Commodus will commence upon delivery of the vessel, which is expected during July 2009, and is subject to the completion of definitive documentation.

The company also announced it has exercised its option to convert the balance period of its charter party for the Genco Thunder, a 2007-built Panamax vessel, with Baumarine AS to a fixed rate. As a result, the vessel is now fixed for the balance of the original charter party, with a minimum redelivery date on or about October 15, 2009 and a maximum redelivery date on or about December 15, 2009, at a rate of $20,079 per day, less a 5% third-party brokerage commission. The amended time charter for the Genco Thunder is expected to commence on June 1, 2009 and is subject to the completion of definitive documentation. The vessel has traded in the Baumarine Pool, a spot pool of approximately 80 vessels, since November 2008.

(www.gencoshipping.com)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar 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: 0.0776 sec (13 req/sec)