Dry CargoEurope

NewLead handysize bulker gets period charter

Athens: A handysize bulk carrier owned by NewLead Holdings has won a two- to four-month timecharter from an unnamed charterer.

The Newlead Albion (32,318d dwt, built 2012) was fixed at a gross rate of $5,150 per day for the sixty-day minimum charter period, less 6.25% commission paid to third parties. The rate will increase to $5,400 per day if the contract is extended.

The rate is a slight reduction on the last period charter won by a NewLead handysize. Last week, the Newlead Castellano (35,542 dwt, built 2013; pictured) won a three- to five-month timecharter from an unnamed party, fixed at a gross rate of $7,650 per day.

“The Newlead Albion trades primarily in the Far East area but trading is at charterer’s option. NewLead ensures trading of its dry bulk vessels in the Pacific and Atlantic Ocean to hedge trading opportunities across all markets,” Michael Zolotas, chairman and CEO of NewLead, said today in a statement.

“NewLead continues to realize competitive employment of its dry vessels, despite the worst industry downturn in 30 years, as a result of NewLead’s management established commercial relationships in the industry.”

The contract will increase the operating days for NewLead’s dry bulk fleet to approximately 53.09% for 2015; its tanker fleet has 57.17% of its operating days covered for this year.


Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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