Genco receives Supramax bulker

New York-listed Genco Shipping & Trading Ltd. has taken delivery of the second of three dry bulk vessels the company is buying from Bocimar International N.V. and Delphis N.V.

The Genco Cavalier is a 2007-built Supramax vessel and is expected to be delivered Saturday to its charterer, Samsun Logix Corp., to commence a time charter for 24 to 26.5 months at a cash rate of $48,500 per day, less a 5 percent third-party brokerage commission. The charter is due to expire between July 2010 and October 2010.

Genco now owns a fleet of 30 dry bulk vessels comprising five Capesize, seven Panamax, four supramax, six handymax and eight handysize vessels, with an aggregate carrying capacity of about 2.15 million deadweight tons. That figure will rise to 3.52 million dwt with the delivery of 11 vessels the company has agreed to acquire. 

Source: American Shipper