Sign In
18 Jan 2011 07:00
Hellenic Carriers Limited
Fleet Deployment Update
Press Release 18 January 2011
Fleet Deployment Update
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 Vergina Shipping Corp., the shipowning company of M/V Konstantinos D has entered into a time charter agreement with an unaffiliated third party for a period of 4 - 7 months. The daily hire rate has been fixed at US$ 9,250 gross for the first 40 days and US$ 14,200 thereafter.
The charter commenced on 14 January 2011. The earliest expiration date is 14 May 2011 and the latest 14 August 2011.
The M/V Konstantinos D is a 50,326dwt Supramax vessel built in 2000 at Mitsui Engineering and Shipbuilding, Japan.
Following the time charter of Konstantinos D, the estimated time charter coverage for the first half of 2011 is approximately 52% and 26% for the whole of 2011.
Fotini Karamanlis, Chief Executive Officer, commented: "We are pleased to announce this new employment agreement for M/V Konstantinos D. Hellenic continues to implement its balanced chartering strategy aiming to secure visible and stable cash flows. We consider that the short to medium term volatility will remain a prevalent factor in the dry bulk shipping market. We will continue to monitor the effect of the new building tonnage delivered throughout 2010 and the substantial orderbook of vessels scheduled to be delivered within 2011 and we believe that Hellenic remains well positioned to take advantage of market opportunities as these occur.
The deployment of the fleet is as follows:
Vessel | Type | Year Built | Yard | Carrying Capacity (dwt) | Charter Type | T/C Earliest Expiration Date | Daily Charter Rate US$ (Gross) |
M/V Hellenic Sea | Panamax | 1991 | Jiangnan Shipyard, China | 65,434 | T/C | 29/04/2011 | 23,300 |
M/V Hellenic Sky | Panamax | 1994 | Sasebo Heavy Industries, Japan | 68,591 | T/C | 20/03/2011 | 22,000 |
M/V Hellenic Horizon | Handymax | 1995 | Halla Engineering & Heavy Industries, Korea | 44,809 | Trading Spot | - | - |
M/V Konstantinos D | Supramax | 2000 | Mitsui Engineering & Shipbuilding, Japan | 50,326 | T/C | 14/05/2011 | 9,250(1) |
M/V Hellenic Wind | Panamax | 1997 | Tsuneishi, Shipbuilding, Japan | 73,981 | T/C | 14/05/2011 | 54,000 |
(1) The rate applies for the first 40 days and increases to US$ 14,200 thereafter.
ENDS
For further information please contact:
Hellenic Carriers Limited
Fotini Karamanlis, Chief Executive Officer
E-mail: info@hellenic-carriers.com +30 210 455 8900
Panmure Gordon (UK) Limited
Andrew Godber +44 (0) 20 7459 3600
Capital Link
Ramnique Grewal +1 212 661 7566 (New York)
Annie Evangeli +44 (0) 20 3206 1320 (London)
E-mail: helleniccarriers@capitallink.com
Further Information - Notes to Editors
About Hellenic Carriers Limited
Hellenic Carriers Limited manages through Hellenic Shipmanagement Corp. a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. The fleet consists of five vessels, comprising three Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of 303,141 dwt plus two new building vessels currently on order, both Kamsarmaxes with an aggregate carrying capacity of about 164,000 dwt.
Following the delivery of the two Kamsarmax vessels, the Company will manage through Hellenic Shipmanagement Corp. a fleet of seven dry bulk carriers comprising two Kamsarmaxes, three Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of about 467,141 dwt and a weighted average age of 12.5 years (as of 31 March 2013).
Hellenic Carriers is listed on the AIM of the London Stock Exchange under ticker HCL.
Follow the stocks
