Sign In
24 Jun 2009 07:00
ο»Ώ
Hellenic Carriers LimitedΒ
FleetΒ DeploymentΒ Update
Press ReleaseΒ 24Β June 2009
M/V HELLENICΒ SKYΒ TIME CHARTERED AT US$18,000 PER DAY FORΒ 13-16Β MONTHS
Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announces today that its wholly owned subsidiary Thasos Shipping Co Ltd ("Thasos"), the ship owning company of the M/V Hellenic Sky, has delivered the vessel to its new charterers,Β Cargill Ocean Transportation ("Cargill").Β The M/V Hellenic Sky is a 68,591 dwt Panamax built in 1994 atΒ Sasebo Heavy Industries, Japan.Β
TheΒ time charter agreement withΒ CargillΒ for the M/V Hellenic SkyΒ isΒ for a period of minimumΒ 13Β to aboutΒ 16Β months at a gross rate of US$18,000 per day.Β The charter commenced on 22 June, 2009 and the earliest expiration date is 22Β July,Β 2010.Β
Following the time charter of the M/V Hellenic Sky, the estimated time charter coverage for the remaining of 2009 isΒ 90% andΒ 59% for the whole of 2010.Β
Fotini Karamanlis, Chief Executive Officer, commented:Β "The dry bulk shipping market has improved significantly since the end of last year, when the severe financial crisis led freight rates below operating expenses.Β Both theΒ increasing volumes of trade,Β mainly towards theΒ Far East,Β and the gradual availability of credit have helped the marketΒ recover.Β Whilst weΒ continue to believe in theΒ positiveΒ long termΒ fundamentals of the dry bulk market, weΒ considerΒ thatΒ in the short to medium termΒ volatility will remain a prevalent factor.Β Consistent with our chartering strategy followed thus far,Β when market conditions are favourable,Β Hellenic aims to secure visible andΒ stable cash flowsΒ under time charter employment,Β which enhance the Company's liquidity and returns."
The deployment of the Hellenic managed fleet is as follows:
Β
|
Vessel |
Type |
Year Built |
Yard |
Carrying Capacity (dwt) |
Charter Type |
T/C Expiration DateΒ EARLIEST |
Daily Charter RateΒ US$ (Gross) |
|
M/V Hellenic BreezeΒ |
Panamax |
1993 |
Tsuneishi Shipbuilding,Β Japan |
69,601Β |
T/C |
31/12/2010 |
24,000 |
|
M/V Hellenic Sky |
Panamax |
1994 |
SaseboΒ Heavy Industries, Japan |
68,591Β |
T/C |
22/07/2010 |
18,000 |
|
M/VΒ HellenicΒ Sea |
Panamax |
1991 |
Jiangnan Shipyard,Β China |
65,434Β |
T/C |
11/10/2009 |
16,500 |
|
M/V Hellenic Wind |
Panamax |
1997 |
Tsuneishi,Β Shipbuidling,Β Japan |
74,000 |
T/C |
14/05/2011 |
54,000 |
|
M/VΒ Hellenic Horizon |
Handymax |
1995 |
HallaΒ EngineeringΒ &Β Heavy Industries,Β Korea |
44,809Β |
T/C |
30/11/2009 |
15,600 |
|
M/VΒ Konstantinos D |
Supramax |
2000 |
MitsuiΒ EngineeringΒ &Β Shipbuilding,Β Japan |
50,326 |
T/C |
25/01/2011 |
35,000 |
ENDS
For further information, please contact:Β
Hellenic Carriers LimitedΒ
Fotini Karamanlis, Chief Executive OfficerΒ
E-mail:Β info@hellenic-carriers.comΒ +30 210 455 8900Β
Jefferies International LimitedΒ
Anne DovigenΒ +44Β (0)Β 20 7029 8000Β
Schuyler EvansΒ
Capital LinkΒ
Ramnique GrewalΒ +1 212 661 7566 (New York)Β
Annie EvangeliΒ +44Β (0)Β 20 3206 1320 (London)Β
E-mail:Β helleniccarriers@capitallink.com
Further Information - Notes to EditorsΒ
About Hellenic Carriers LimitedΒ
Hellenic Carriers Limited manages through Hellenic ShipmanagementΒ Corp.Β a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. Currently the fleet consists of six vessels, comprising four Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of 372,761Β dwt.Β
Follow the stocks
