Genco to Sign Charters for Panamax Vessels

Friday, January 12, 2007
Genco Shipping & Trading Limited announced it has reached an agreement in principle to enter into a time charter for the Genco Acheron, a 1999-built Panamax vessel, with STX Panocean Co. Ltd. The time charter would be for eleven to thirteen months at a rate of $30,000 per day, less a 5% third party brokerage commission. The company also announced it has reached an agreement in principle to commence a time charter for the Genco Leader, a 1999-built Panamax vessel, with AS Klaveness Chartering for twenty-three to twenty-five months at a net rate of $25,650 per day, equivalent to a gross rate of approximately $27,000. Since February of 2006, the vessel traded in the Baumarine Pool, a spot pool of approximately 80 vessels. The time charter for the Genco Acheron is expected to commence following the expiration of the current time charter with Global Maritime Investments Ltd. The time charter for the Genco Leader is expected to commence on or about January 15, 2007. Both time charters are subject to the completion of definitive documentation.
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


DP World Leading M.E. Investor - MEIRS Awards

Global marine terminal operator DP World has collected an impressive four awards including the Grand Prix of ‘Leading Corporate for Investor Relations in the

Diana Fixes Panamax

Diana Shipping Inc. today announced that through a separate wholly-owned subsidiary, it entered into a time charter contract with Cargill International S.A.,

Long Beach Port Delivers Best Quarter

With the best September in its 104-year history, the Port of Long Beach last month moved enough cargo volume to also achieve its busiest quarter, signaling a return to pre-recession trade levels.

Patrol Boats

China Opposed to Parties Entering 'territorial' Waters

China's Foreign Ministry said on Friday it was against parties entering territorial waters in the name of freedom of navigation, as the United States is considering

U.S. Will Dispatch Warships to South China Sea

The United States is expected to sail warships close to China's artificial islands in the South China Sea within the next two weeks to signal it does not recognize

Indonesia, Australia on Joint Sea Patrol to Combat Illegal Fishing

Indonesian and Australian authorities have signed an agreement to combat illegal, unreported and unregulated (IUU) fishing and to promote sustainable fisheries governance across the region.

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage 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: 0.2033 sec (5 req/sec)