Paragon Shipping Enters New Time Charters

Monday, July 18, 2011

Paragon Shipping Inc., a shipping transportation company specializing in drybulk cargoes, announced that it has entered into fixed rate time charter agreements for two of its 37,200 dwt, Handysize newbuildings with Cargill International S.A. Both vessels have been fixed for a period of two years at a gross daily rate of $12,125 commencing upon their delivery to the company, which is expected to take place in the first quarter of 2012. In addition, the charterers have an option to extend the charter period for an additional year at a gross daily rate of $15,500.

Paragon also announced that it has entered into a three year time charter agreement for the M/V Deep Seas, a 1999 build, 72,891 dwt Panamax bulkcarrier, with Morgan Stanley Capital Group Inc. at a gross daily rate of $11,000, plus 50% profit sharing based on the BPI Index commencing when its current time charter agreement expires in September, 2011. Furthermore, the charterers have an option to extend the charter period for an additional year at a gross daily rate of $14,000.

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

People & Company News

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

SUNY Maritime Takes the Ice Bucket Challenge

Taking full advantage of one of the summer’s hottest days, twelve administrators and staff at the State University of New York (SUNY) Maritime College today took the Ice Bucket Challenge,

Fraunhofer Researchers Improve Underwater Images

Videos and images of the submarine world are important for the maritime industry. Researchers from Fraunhofer IGD will show how underwater images can be improved

Contracts

Vard Orders Parat Electric Steam & Hot Water Boilers

During the last month, PARAT Halvorsen AS has collected four new boiler plant orders from the Vard Group and their multipurpose platform ships of Vard 1 08 design.

Newport News Selects Paramarine Design Software

QinetiQ’s Paramarine Ship and Submersible Design Software has been selected by Newport News Shipbuilding (NSS) as its primary naval architectural software. QinetiQ

VOSTA LMG Secures Order From Boskalis

VOSTA LMG has been awarded an order for efficient dredge ball joints from maritime services company Royal Boskalis Westminster. The order consists of a series

Bulk Carrier Trends

New Bulk Carrier Design Puts Ecoships in the Lotus Position

Ecoships, the technical shipmanagement arm of Newport Shipping Group, has introduced a next generation bulk carrier design, developed to set the standard in ecologically

Rickmers-Linie Appoints Interliner Agencies

Hamburg based Rickmers-Linie has appointed Interliner Agencies as its new agent in South Central Europe. The agency contract covers Slovenia, Austria, Czech Republic,

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Finance

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Statoil, DNV GL Drive Subsea Factory Interface Standardization

Statoil has entered into an agreement with DNV GL to establish an industrial cooperation to introduce an international industry standard for subsea process technology.

Vessels

Vard Orders Parat Electric Steam & Hot Water Boilers

During the last month, PARAT Halvorsen AS has collected four new boiler plant orders from the Vard Group and their multipurpose platform ships of Vard 1 08 design.

Imtech Marine Nav/Com Partner for Groen OSV

The first newbuild ship in a series of three offshore support vessels (OSVS) for shipowner Groen (Scheveningen), 7-Oceans, was delivered at Damen Maaskant Shipyards in Stellendam,

Chloropac Anti-Fouling Selected for Largest Decommissioning Vessel

Allseas Group S.A., a global offshore pipe installation and subsea construction company, has selected Evoqua Water Technologies’ Chloropac electrochlorination system

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1629 sec (6 req/sec)