Paragon Shipping (PRGN) Announces Three-Year Agreement with Bunge SA to Charter the Diamond Seas
Paragon Shipping Inc. (NASDAQ: PRGN) announced today that it has entered into a new three year time charter contract for the Diamond Seas. The vessel has been forward fixed on period time charter for 23 to 25 months at a gross daily rate of $16,250 with Bunge S.A., who also has the option to charter the vessel for a further 11 to 13 months at a gross daily rate of $18,500 during the option period.
The contract is scheduled to commence between April and July 2010, after the present charter expires.
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