Genco's new acquisitions

Thursday, 07 January 2010 09:47

Genco Shipping & Trading Limited (Genco) has announced that it has taken delivery of the Genco Claudius, a 169,025 dwt Capesize newbuilding. The Genco

Claudius is the final vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capesize vessels from companies within the Metrostar Management Corporation group.

 

Genco has also announced that it 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 January 8, 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.

Source: Genco