Genco Shipping & Trading Closes Acquisition Of Six Drybulk Vessels - Quick Facts

Genco Shipping & Trading Ltd. (GNK) said that it has taken delivery of the Genco Champion, a 2006-built Handysize vessel, on January 2, 2008. The Genco Champion is the final vessel to be delivered to the Company under Genco's previously announced agreements on August 14, 2007 to acquire six drybulk vessels from affiliates of Evalend Shipping Co. S.A.

The Genco Champion is expected to be delivered to its charterer, Pacific Basin Chartering Ltd., by January 4, 2008 to commence a time charter for 35 to 37.5 months at a rate of $24,000 per day, less a 5% third party brokerage commission. The charter is due to expire between December 2010 and March 2011.

Source:RamblerNews