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NewLead handy bulker gets timecharter

Athens: A handysize bulk carrier owned by NewLead Holdings has won a three- to five-month timecharter from an unnamed party.

The Newlead Castellano (35,542 dwt, built 2013; pictured) was fixed at a gross rate of $7,650 per day, minus 6.25% commission for third parties. The vessel was delivered to the charterers at the beginning of June, NewLead said today.

The ship’s last reported period fixture terminated in the first quarter this year, having completed a three- to five-month timecharter fixed in October 2014 for a gross rate of $9,500 per day.

“NewLead achieved a timecharter agreement at a premium compared to the industry’s average year to date handysize dry bulk vessels earnings. We continue to benefit from our strong and long-lasting relationships with charterers, traders and brokers,” Michael Zolotas, NewLead’s chairman and CEO, said today.

“Throughout historically distressed dry bulk market conditions, we continue to make the most of our cost-efficient ship management capabilities while maintaining the operating condition of our vessels at the highest levels.”

The eco-type bulker is one of the three handysize bulk carriers purchased and delivered to NewLead in 2014.

The company says it has approximately 50.71% of its operating days covered for its bulkers and 36.53% for its tankers in 2015.


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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