The 35,500-dwt Newlead Castellano (built 2013) has been chartered out for $9,500 per day, minus a 6.25% commission, for between three and five months.

It is expected to generate $0.85m of revenue over the minimum three-month period.

The owner is sticking to its previous assessment of the ship's likely pre-tax earnings as $1.7m per year, assuming $1.73m of annual operating expenses.

The ship was trading spot after it was delivered in September.

CEO