Hong Kong's Parakou Shipping has locked a bulker into a charter tied to the Baltic Supramax Index.

The charter comes amid a busy time for period fixtures in the Pacific supramax market, according to the Baltic Exchange.

The 10- to 12-month charter will see Singapore's Siva Shipping pay 112% of the BSI for the 63,600-dwt CP Guangzhou (built 2015).

The ship delivers into its new charter in mid-August, according to data from the Baltic Exchange.

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