Paragon switches containerships for bulkers

Paragon switches containerships for bulkers    Paragon Shipping has entered an agreement with a Chinese shipyard to substitute two 4,800 TEU container vessels with scheduled delivery in the fourth quarter of 2013 for two 82,000 deadweight-ton dry bulk vessels that were scheduled for delivery in the third and fourth quarters of 2012.
   Paragon said it will pay $50.2 million to change the order.
   In addition, Paragon said it has agreed to buy one 5,100 TEU containership, CMA CGM Kingfish, from CMA CGM. The vessel, which was built by Hyundai Heavy Industries at Samho, Korea in 2007, will be chartered to CMA CGM on a fixed rate period time charter with a term of 36 months (plus/minus 45 days) at a gross daily rate of $23,000, starting from its delivery date, which is scheduled to take place in April or May.