United Maritime locks in fresh fixtures amid firming dry bulk market
Source: Splash247
United Maritime has lined up new employment for its bulk carriers as it positions for a stronger fourth quarter and a firmer outlook for panamax and kamsarmax earnings.
The Nasdaq-listed Greek owner, led by Stamatis Tsantanis (pictured), said it has secured new charter deals and extensions for its mid-sized dry bulk fleet, all linked to the Baltic Kamsarmax Index (BKI).
The 2015-built Synthesea has started a new 11- to 13-month charter with Japan’s NYK Line, while the 2011-built Exelixsea has been fixed to Enesel Bulk Logistics for a period of about nine to 12 months.
In addition, the 2016-built Nisea and the 2009-built Cretansea have both had their existing charters extended in direct continuation, with durations ranging from 10 to 14 months.
Tsantanis said the company’s commercial performance reflects its transition from capesize tonnage to a pure panamax/kamsarmax fleet.
“We have secured three new time charters with leading counterparties, preserving full exposure to panamax/kamsarmax market strength,” he said. “All employments involve index-linked rates that benefit directly from healthy spot levels.”
United has fixed roughly 62% of its available operating days for the fourth quarter at a daily rate of around $14,880 and expects an overall TCE of about $15,040 based on the current FFA curve.
Launched in 2022 as a spin-off from Seanergy Maritime, United has focused on fleet renewal through exit from vintage capesize ownership and exposure to mid-sized bulkers, maintaining index-linked employment across its current five-ship fleet.
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