Precious Shipping charters newbuild ultramax to Trafigura
Thai owner secures up to 14 months of index-linked employment for the newly delivered Ratima Naree.
Bangkok-based dry bulk owner Precious Shipping has secured prompt term employment for its latest newbuild vessel, committing the ship to an index-linked contract with commodity trading giant Trafigura.
The Thai shipping company confirmed that the 63,500 dwt ultramax bulk carrier Ratima Naree commenced its time charter with Singapore-based Trafigura Maritime Logistics on September 7. The fixture took effect just days following the vessel's formal delivery.
According to the Khalid Hashim-led owner, the commercial agreement covers a firm duration ranging from 12 to 14 months. The charter earnings are structured on an index-linked pricing formula, tying the vessel's returns directly to prevailing market benchmarks over the term of the hire.
The deployment allows Precious Shipping to secure continuous employment for its newly added tonnage while maintaining exposure to market rate developments through a major international charterer.
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