Marine Link
Thursday, December 8, 2016

Genco Shipping Agreement for Time Charters

November 17, 2009

Genco Shipping & Trading Limited (NYSE:GNK) has reached an agreement to enter into a time charter for the Genco Claudius, a Capesize newbuilding, with Cargill International S.A. for 10.5 to 13.5 months at a rate of $36,000 per day, less a 5% third-party brokerage commission. The time charter for the Genco Claudius will commence upon delivery of the vessel, which is expected during December 2009, and is subject to the completion of definitive documentation.

The company also announced it has reached an agreement to extend the time charter for the Genco Leader, a 1999-built Panamax vessel, with Baumarine AS for 10.5 to 13.5 months at a rate of $20,000 per day, less a 5% third party brokerage commission. The time charter is expected to commence following the expiration of the vessel's current time charter and is subject to the completion of definitive documentation.



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News