OceanFreight Inc. New Charter

Thursday, October 15, 2009

OceanFreight Inc. (NASDAQ: OCNF), a global provider of seaborne transportation services for both drybulk and energy commodities, announced a new charter for the recently acquired 180,000DWT, 2005 built capesize vessel. Upon delivery, the vessel will be renamed M/V Montecristo and will commence employment on a time charter for a minimum period of four years at a gross rate of $23,500 per day and a maximum of eight years at an average gross rate of $24,125 per day for the optional period.

Anthony Kandylidis, Chief Executive Officer of the Company, commented: "Being consistent with our strategy of modern vessel acquisitions and of secured revenues, we have fixed the newly acquired capesize vessel for a minimum period of four years generating approximately $34.3 million in gross revenues over the minimum duration of the charter. Presently, our fleet charter coverage for 2010 stands at approximately 72%, while going forward, supported by our strong balance sheet and our ability to tap the capital markets, we continue to look for opportunities to grow our fleet."

(www.oceanfreightinc.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

"K" Line Review of Medium-Term Management Plan

Kawasaki Kisen Kaisha, Ltd. (“K” Line) reviewed “K” Line Group’s medium-term management Plan, which was formulated in March 2015 as the business strategy toward our 100th anniversary in 2019,

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Bulk Carrier Trends

Entrance to Port of Santos Reopens

The entrance to Brazil's largest  reopened on Thursday, after rough seas prevented ships from entering or leaving for more than 30 hours during peak soy export season.

French Wheat Exports Await Indonesia Approval

French wheat exports to Indonesia are on hold as traders await the approval of a food safety agreement between the two countries, something exporters say is being

Baltic Index Dips on Weaker Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday, hurt by lower rates for capesize and panamax vessels.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.0894 sec (11 req/sec)