The Indian-owned dry bulk shipping firm announced that Clearlake Shipping of Singapore has chartered in the 82,459-dwt Sri Prem Veena, built in 1997, for a period of 12-16 months at $7,050 per day.
"This hire rate represents a healthy premium of 23% over 4 TC Baltic Panamax spot index rate which is currently at $5,735 per day,"Singapore-listed Mercator Lines said.
"This new employment will generate gross revenue of around $3.4m for the period of up to 16 months," it added.
Clearlake Shipping, subsidiary of Gunvor Group, is one of the largest charterers of tanker vessels and an operator of dry bulk and VLGC vessels and cargoes.
"In today's historic low dry bulk market, where counterparty reliability represents a major risk, the company has consciously decided to deal only with reputable counterparties with a solid track record," Mercator Lines commented.
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