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Article: Genco Shipping & Trading Limited Announces Plan to Sign Time Charters for Capesize Newbuilding and Panamax Vessel.
- Article from:
- PR Newswire
- Article date:
- June 2, 2009
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Expands Time Charter Coverage to 64% for 2009 and 44% for 2010
NEW YORK, June 2 /PRNewswire-FirstCall/ -- Genco Shipping & Trading Limited today announced that it has reached an agreement to enter into a time charter for the Genco Commodus, a Capesize newbuilding, with Morgan Stanley Capital Group Inc. for 23 to 25 months at a rate of $36,000 per day, less a 5% third-party brokerage commission. The time charter for the Genco Commodus will commence upon delivery of the vessel, which is expected during July 2009, and is subject to the completion of definitive documentation.
The Company also announced it has exercised its option to convert the balance ...