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MOL signs 10-year charter for Rickmers newbuilds

Tokyo: Mitsui OSK Lines has signed a contract with Rickmers Trust Management (RTM), the trustee-manager of Rickmers Maritime, for the 10 year charter of acquire five 4,250teu containerships. The vessels purchased for $79m each, currently under construction at Dalian Shipbuilding, were originally ordered by Polaris Shipmanagement Company. They will be delivered to RTM between June 2008 and February 2009 and are expected to contribute  approximately $49m annually in charter hire revenue to the trust.

The trust recently purchased four vessels of the same size for $69m each, also under construction for Polaris at China's Yangzijiang Shipbuilding. These vessels are scheduled for delivery between February and December 2009 and are contracted out to Hanjin.  [11/10/07]

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