Long-term contract of affreightment signed for minor bulk shipments
The multi-year agreement provides cargo cover for a fleet of geared bulk carriers.
A multi-year contract of affreightment covering minor bulk shipments has been agreed between an operator and an industrial cargo interest.
The agreement provides base employment for geared tonnage and gives the cargo interest greater certainty over freight budgets.
Neither party disclosed rate levels, and this report does not estimate them.
Chartering specialists said such agreements have become more common as owners seek to balance spot exposure with contracted cover.
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