Crude Carriers (CRU) Reaches Agreement on Two New Time Charters; Names Karsten Djuve as CCO
Crude Carriers Corp. (NYSE: CRU) reaches time charter agreement with Shell Trading & Shipping Co.
According to the release: "The Company has agreed to employ the Suezmax vessels, M/T 'Amoureux' (150,393 dwt, built 2008, Universal Shipbuilding) and M/T 'Aias' (150,096 dwt, built 2008, Universal Shipbuilding) under spot index-related time charters for a period of approximately 12 months (+/- 30 days) each. Under the terms of the spot related time charter agreements, the minimum base rate received by the vessels shall be the monthly average of the Baltic Dirty Tanker Route 5 (TD5) (West Africa - US East Coast), one of the main spot Suezmax trading routes. In addition, both charters are also subject to a profit sharing arrangement, settled quarterly, allowing the Company to receive 50 percent of any additional revenues earned by the vessels in excess of the index related minimum base rate over the period that the actual voyage took place."
Additionally, the company promotes Karsten Djuve as Chief Commercial Officer
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