Drybulk specialist Paragon switch containerships for bulkers

GREEK carrier Paragon Shipping Inc has entered into an agreement to exchange two 4,800-TEU vessels on order for end of 2013 for two 82,000-ton bulkers for an additional cost of US$50.2 million.


The bulkers will be delivered by the Chinese shipyard a year earlier in third and fourth quarters 2012, according to American Shipper.


It has agreed to buy the CMA CGM Kingfish built by Korea's Hyundai Heavy Industries for the French container carrier which will charter the 5,100-TEU vessel on a gross daily rate of $23,000 from delivery in April or May for a fixed rate period time charter of 36 months (plus or minus 45 days).
(Source:http://www.schednet.com)