Precious prepares to lock in long term contracts

Bangkok: Precious Shipping will continue to seek more time charters as the dry bulk market picks up, its managing director Khalid Hashim has noted in an email corporate update.

Precious’s current and forward four year (2014 to 2017) rolling book is currently at the 13.75% level with a visible revenue stream of $138.66m.  

“We will commence employing our strategy to lock in longer term contracts in the near future once the market starts to clearly move in an upward direction,” Hashim wrote.   

Suggesting the market has bottomed out, Precious put pen to paper on a series of newbuilds towards the end of last year.  [02/01/14]

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