Precious fixes more ships long term

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Sep 2008

THAI-based handysize bulker and tweendecker operator Precious Shipping says that more of its ships have been fixed to commence longer term employment contracts. The company's fleet is now 96% fixed for the remaining months of this year 66% covered next year and at 53% over the next four years, generating an expected revenue stream of US$538m. Company managing director Khalid Hashim says: “This tells you that our clients have the confidence that this freight market still has legs to run for another few years. That is the reason why they have been chasing us to give them our ships on longer (read between 3 and 5 year) contracts and which is adding weight to our forward book.”
He adds: “We will continue with our policy to fix ships on period charters at the right rates, with the right customers and at the right time.”

Source: Maritime Global Net