Paragon Shipping Inc. announced yesterday that it has taken delivery of the M/V Precious Seas, a 37,205 dwt Handysize vessel, from the Zhejiang Ouhua Shipbuilding Co. in China.
The vessel has been chartered out to Cargill International S.A. for a period of 23 to 26 months at a gross daily rate of $12,125. In addition, the Charterers have the option to extend the charter period for an additional 11 to 14 months at a gross daily rate of $15,500. The new time charter contract is anticipated to contribute a minimum of about $8.5 million of gross revenues to the Company. Based on the latest redelivery dates, the Company’s contracted revenue days currently stand at 94% in 2012, at 68% in 2013 and at 35% in 2014.
BUILT by: ZHEJIANG OUHUA SHIPBUILDING CO. LTD.
LBP: 182.96 m
BREADTH: 28.3 m
SUMMER DRAFT: 10.50 m
CARGO CAPACITY: 48,902 m3 Grain
No HOLD / HATCHES: 5/5
GEAR: 4 x 30mt
Source: paragonship, June 20, 2012; Image: ouhuashipbuilding