Castor Maritime Charters Panamax Vessel with Oldendorff

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  • Castor Maritime Inc. entered into a time charter contract with Oldendorff Carriers GMBH & Co KG Luebeck for its panamax vessel .
  • The gross charter rate is US$11 250/d, for a period of a minimum of 5 months up to a maximum of about 8 months.
  • For the first 30 days period the daily gross rate is US$9000. The charter commenced on 12 March 2019.
  • This employment may generate approximately US$1.60 million of gross revenue for the minimum scheduled period.

On Thursday last week, Castor Maritime Inc., entered into a time charter contract with Oldendorff Carriers GMBH & Co KG Luebeck for Magic P, reports Dry Bulk Magazine.

About the Contract

The international shipping company specialising in the ownership of dry-bulk vessels, has signed the contract through a wholly-owned subsidiary. The gross charter rate is US$11 250/d, for a period of a minimum of 5 months up to a maximum of about 8 months. For the first 30 days period the daily gross rate is US$9000. The charter commenced on 12 March 2019.

Expected Revenue

The Magic P is a 76 453 DWT panamax bulk carrier built in 2004 in Japan. This employment is anticipated to generate approximately US$1.60 million of gross revenue for the minimum scheduled period; it could reach US$2.6 million should employment be extended to its maximum period. However, there is no guarantee that any such extension will occur.

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Source: Dry Bulk Magazine

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