Eagle Bulk Shipping Inc. Thursday said it has reached a comprehensive agreement with the Receivers of Korea Line Corp. regarding twelve time-chartered vessels impacted by Korea Line's decision to file for protective receivership earlier this yea, rrttnews reports.
Under the agreement, charter rates on ten vessels have been adjusted to $17 thousand per vessel per day. Additionally, through December 31, 2015, Eagle Bulk will receive all profits between $17 thousand and $21 thousand per vessel per day. Any additional profits above $21 thousand will be split equally between the two companies.
After December 31, 2015, all profits above $17 thousand per vessel per day will be split equally until the conclusion of the charters which expire at the earliest on December 31, 2018.
Under the agreement, charter rates on ten vessels have been adjusted to $17 thousand per vessel per day. Additionally, through December 31, 2015, Eagle Bulk will receive all profits between $17 thousand and $21 thousand per vessel per day. Any additional profits above $21 thousand will be split equally between the two companies.
After December 31, 2015, all profits above $17 thousand per vessel per day will be split equally until the conclusion of the charters which expire at the earliest on December 31, 2018.