Seanergy Maritime Holdings Corp. Announces Time Charter Contract for One of its Capesize Vessels
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, commented: “We are pleased to announce the time charter contract of M/V Lordship’s for a period of up to twenty-two months with a major European charterer. Our high quality of service has made us a preferred business partner to first-class charterers and we expect this to continue being a central pillar of our commercial strategy. Indicatively, based on the prevailing spot rate for Capesize vessels, this time charter contract could contribute more than $10 million of net revenues to the Company, assuming the full 22-month employment. Furthermore, the 5 T/C route rate associated with the agreement will allow us to benefit from the potential market upside, while our option to convert to a fixed rate provides us with the flexibility to lock into a profitable fixed rate for up to 12 months at any point.
“As the freight market strengthens, we expect to secure additional long term employment agreements for our fleet.” Link To PDF