Coll said it would cost the Rhode Island-based bulker owner and operator a premium to time-charter a vessel for five years in today’s market.
“So we can go out today and buy a ship cheaper than chartering a ship for five years,” he said at the Connecticut Maritime Association’s Shipping 2015 conference.
Earlier this month, Pangaea announced that it inked a five-year COA to carry 2 million tonnes of “steel-related products” from the Gulf of Mexico to Central America beginning in 2016.
In
