Paragon Shipping Charters Out Two Bulk Carriers

Press Release
Wednesday, July 11, 2012

Greece-based Paragon Shipping fix Panamax, Supramax, bulk carriers on time charter

Paragon Shipping Inc. has signed fixed rate time charter agreements for two of its vessels,  M/V Diamond Seas and the M/V Sapphire Seas

The M/V Diamond Seas, a 2001 built 74,274 dwt Panamax bulkcarrier, has been fixed to HYundai Glovis Co. Ltd for a period of 3 to 6 months at a gross daily rate of $9,150.

The M/V Sapphire Seas, a 2005 built 53,702 dwt Supramax bulkcarrier, has been fixed to EFE DENIZCILIK SANAYI TICARET LIMITED SIRKETI for a period of 4 to 6 months at a gross daily rate of $14,500

As a result, the Company's fixed revenue days now stand at 97% in 2012, at 69% in 2013 and at 35% in 2014 based on latest redelivery dates. The new time charter contracts are anticipated to contribute a minimum of about $2.6 million of gross revenues to the Company.

Paragon Shipping is a Marshall Islands-based international shipping company with executive offices in Athens, Greece, specializing in the transportation of drybulk cargoes. The Company's current fleet consists of twelve drybulk vessels with a total carrying capacity of 779,270 dwt. In addition, the Company's current newbuilding program consists of two Handysize drybulk carriers that are scheduled to be delivered in 2012 and two 4,800 TEU Containerships that are scheduled to be delivered in 2013.

 

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

Contracts

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1109 sec (9 req/sec)