NOCC has entered into a new time charter contract for the 100% owned car carrier “NOCC Coral” for a period of about 12 months from the end of July 2012.
The concluded time charter rate is about 10 % higher than comparable fixtures made during the fourth quarter of 2011 and about 20% higher than the rate on the current charter concluded in 2009. The fixture reflects a stronger charter market for car carriers in Q2-2012.
With the abovementioned new charter, NOCC has a charter coverage of 89% in the 3rd quarter of 2012, 68 % in the 4th quarter of 2012 and 36% in 2013.
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Source: NOCC, May 1, 2012