Navios seals period deal
It appears that Navios Maritime Holdings has lined up a period deal for one of its capesize bulkers.
The Navios group of companies are led by chief executive Angeliki Frangou.
According to the Baltic Exchange, SwissMarine hired the 180,700-dwtNavios Lumen(2009) for up to 15 months.
The organisation claims earnings will be based on the performance of the Baltic Capesize Index (BCI).
In a daily market briefing it noted vessel will rake in an indexed rate that is 5\% higher than the average achieved by tonnage tied to the BCI 4 route.
Today, capes trading in the period market were commanding roughly $9,875 per day on average when fixed for a year, according to Global Hunter Securities.
Rates in the spot market were on the up for the first time in more than three weeks andsome believe the segment will continue to gain traction in the days ahead.
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At last check Navios and its affiliates boasted more than a dozen capesize bulkers in addition to other types of tonnage as well.
source:www.tradewindsnews.com
