Genco plans to sign time charter for Panamax vessel
Genco Shipping & Trading Limited has reached an agreement to enter into a time charter for the Genco Vigour, a 1999-built Panamax vessel, with Global Maritime Investments Ltd. for approximately 10.5 to 13.5 months at a rate of $24,000 per day, less a 5% third-party brokerage commission.
The time charter is expected to commence on or about 8 January 2010 following the expiration of the vessel's current time charter and is subject to the completion of definitive documentation.
Currently, Genco has approximately 54% of its fleet's estimated available days secured on contracts for 2010.
Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.
It currently owns a fleet of 35 drybulk vessels, consisting of nine Capesize, eight Panamax, four Supramax, six Handymax and eight Handysize vessels, with an aggregate carrying capacity of approximately 2,903,000 dwt.
