The charter agreement also grants the charterer an option to extend the period time charter for an additional year at a gross daily charter rate of $27,500. This new employment is anticipated to generate approximately US$27.5 million of gross revenue for the minimum scheduled three-year period of the time charter.
Dr. Loukas Barmparis, President of the Company commented: “While we remain a strong spot charter market player, we decided to lock this second three-years period time charter that further enhances the visibility of our future cash flows and supports our long-term earning capability."
