According to local sources, PCL officials have paid another visit to owners, based mostly in Western Japan, to table a third reduction proposal.
Extending but at set rate
This time, the company wants to reach a deal that would see it lengthen its long-term time-charter contracts at a pre-agreed rate in return for paying lower rates today.
Back in February, PCL wrote to owners calling for a 50% reduction in rates to help it get through the moribund dry bulk market.
