Paragon Enters Into New Charter Agreements
Published:01-July-2009
By Staff Reporter
New chartering agreements for the Calm Seas and Coral Seas
Paragon Shipping, a Greece-based shipping transportation company specializing in drybulk cargoes, has entered into a two year time charter contracts for the Calm Seas and the Coral Seas.
Both vessels have been forward fixed on period time charters for 23 to 26 months, at a gross daily rate of $15,775 per vessel with Intermare Transport GMBH.
Michael Bodouroglou, Chairman and CEO of Paragon Shipping, said: "We are pleased to announce the new chartering agreements for the Calm Seas and Coral Seas, two panamax bulkcarriers, on terms that we believe are competitive in the current environment and provide us with significant cash flow visibility going forward."
"These contracts are scheduled to commence between December 2009 and April 2010, allowing us to forward fix our revenue stream. Furthermore, the addition of Intermare Transport GMBH, an established international charterer, will further diversify our list of prominent charterers," he added.
