Mercator Lines Charters Out Kamsarmax

  • Business & Finance

Singapore-based dry bulk specialist Mercator Lines, a subsidiary of Mercator Lines India, has signed a long term charter for its 2007-built gearless Kamsarmax with the compatriot Clearlake Shipping.

Clearlake Shipping,  a subsidiary of Gunvor Group, has chartered the 82,459 dwt Sri Prem Veena for a period of 12 to 16 months at USD 7,050 per day.

This hire rate represents a premium of 23% over 4 TC Baltic Panamax spot index rate which is currently at USD 5,735 per day, says Mercator Lines.

This new employment will generate gross revenue of around USD 3.4 million for the period of up to 16 months.

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