UASC to charter 3,908-TEU ship from Danaos
Greek shipowner Danaos Corp. said Monday it has reached agreement for United Arab Shipping Co. to time charter the 3,908-TEU containership Norasia Hamburg when the ship’s current employment with CSAV ends in the first quarter of 2008.
The Kuwait-based ocean carrier will charter the vessel for three years with an option to extend to five years at a lower rate.
“The specific combination of the rate and charter duration we have achieved for our vessel is very attractive, underlining the fact that the charter market has gained visible momentum during the first half of 2007,” said John Coustas, chief executive officer of Danaos.
“We are very happy to add the United Arab Shipping Corp. to our diverse portfolio of customers at a time of high economic growth and increasing trade volumes for the Gulf region.”