Genco Shipping & Trading Limited announced yesterday it had reached an agreement to enter into a time charter for the Genco Loire, a 2009-built Supramax vessel, with Oldendorff GMBH and Co. for approximately 11 to 13.5 months at a rate of $20,250 per day, less a 5% third party brokerage commission. The time charter for the Genco Loire is expected to commence following the expiration of the vessel's current time charter on or about September 14, 2010 and is subject to the completion of definitive documentation.
Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Genco currently owns a fleet of 47 drybulk vessels, consisting of nine Capesize, eight Panamax, fourteen Supramax, six Handymax and ten Handysize vessels, with an aggregate carrying capacity of approximately 3,533,000 dwt. After the expected delivery of three remaining Handysize vessels and three remaining Supramax vessels that Genco has agreed to acquire and retain, Genco will own a fleet of 53 drybulk vessels, consisting of nine Capesize, eight Panamax, seventeen Supramax, six Handymax, and thirteen Handysize vessels with a total carrying capacity of approximately 3,812,000 dwt. References to Genco's vessels and fleet in this press release exclude vessels owned by Baltic Trading Limited, a subsidiary of Genco.
Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Genco currently owns a fleet of 47 drybulk vessels, consisting of nine Capesize, eight Panamax, fourteen Supramax, six Handymax and ten Handysize vessels, with an aggregate carrying capacity of approximately 3,533,000 dwt. After the expected delivery of three remaining Handysize vessels and three remaining Supramax vessels that Genco has agreed to acquire and retain, Genco will own a fleet of 53 drybulk vessels, consisting of nine Capesize, eight Panamax, seventeen Supramax, six Handymax, and thirteen Handysize vessels with a total carrying capacity of approximately 3,812,000 dwt. References to Genco's vessels and fleet in this press release exclude vessels owned by Baltic Trading Limited, a subsidiary of Genco.