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 Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

SGS Wet Welding Repairs Approved by DNV GL

DNV GL and Subsea Global Solutions LLC (SGS) say that they have completed an extensive joint research and development program, that will allow permanent repairs

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

 
 
Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar 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: 0.1006 sec (10 req/sec)