Mr Dale Wainwright
Seanergy chief executive Stamatis Tsantanis said the contract, based on the prevailing spot rate for capesize vessels, could contribute up to $10m in net revenues if it runs the full 22- month period.
“The five 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,” he added. “As the freight market strengthens, we expect to secure additional long term employment agreements for our fleet.”...
Link To PDF