Avance Gas today announced a new Time Charter for the VLGC Pampero. Pampero is currently on a 12-month Time Charter with a trader which expires in November 2023 says Linkedin.
Extension Of Time Charter
The charterer has now agreed to a new Time Charter which will commence in direct continuation of the existing Time Charter. Pampero is a non-scrubber 2015 built VLGC with 84,000 cbm cargo capacity. The new Time Charter has a minimum duration of 21 months securing employment for the ship until she is due for the 10-year special survey in the third quarter of 2025. The rate under the Time Charter is fixed and will add about $29 million in firm backlog to the Company. The charterer will also have the option to extend the new Time Charter by one year following the completion of the 10-year special survey.
Oystein Kalleklev, CEO of Avance Gas, commented: “We are happy to announce an extension of the Time Charter for Pampero with a customer which we share a very good relationship with. Given the improved market, we are also able to re-price the ship with a stronger rate for a longer period. Additionally, the new contract fits perfectly with the drydocking schedule of the ship once she is due for the 10-year survey in the third quarter of 2025 making our planning easier…”
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Source: Linkedin
