Pallas Hires Dry Cargo Ship MV Tingo
- Business & Finance
Gothenburg-based shipping company Pallas Group has, through its subsidiary Pallas Shipinvest 3 Ltd, hired dry cargo ship MV Tingo from Rederi AB Tingo for a period of 16 months plus an option for a one year extension.
The vessel’s name will be changed to Pallas River and it will sail under the flag of Gibraltar. Pallas will be responsible for the vessel’s technical and commercial operation in full.
The vessel will complement MV Pallas Ocean through a separate charter agreement with OP Svensson Shipping AB from Gothenburg.
This ice-class vessel with the cargo holds of 4,500 tons + additional 600 tons capacity can unload dangerous goods such as fuel pellets.
The vessel will undergo an overhaul of its main engine to reduce fuel consumption by up to 25 per cent.
World Maritime News Staff