Nasdaq-listed vintage bulker owner OceanPal has entered into a time charter contract with Crystal Sea Shipping for 2005-built panamax bulker Calipso.
The charter was scheduled to commenced yesterday, at a rate of $22,500 per day, and is for a period of around three months but could stretch through to around July 15. The new deal represents a substantial pay rise to the previous charter, which was with Hong Kong’s Winking Shipping at a rate of $13,850 per day.
Eleftherios Papatrifon, director and CEO of OceanPal, commented: “We are pleased that we have been able to secure this attractive time charter for the m/v Calipso. The new rate of US$22,500 gross, that will run for a minimum of 75 days and a maximum of 150 days, is considerably higher than the current rate of US$13,850 gross that we fixed at the end of January 2022. We view this as a significant sign of the market upturn and our Company is ready to take advantage of the anticipated higher rates when fixing the next employments for our vessels that will be opening up.”
OceanPal listed in December, spun off from Greek owner Diana Shipping, with three older ships going into its fleet focusing on shorter-duration charters.
The company’s fleet currently consists of one capesize and two panamaxes.