Nasdaq-listed dry bulk owner United Maritime Corporation has secured three new time charters with leading counterparties for its dry bulk vessels.
The Greek owner, led by Stamatis Tsantanis, said it has secured a new time charter agreement for the 2015-built panamax Synthesea with Nippon Yusen Kabushiki Kaisha (NYK) for a period of about 11 months to about 13 months.
In addition, the 2011-built panamax Exelixsea commenced a new time charter agreement in September with Enesel Bulk Logistics Pte. Ltd. (Enesel) for a period of about 9 months to maximum 12 months.
The daily hire for both ships is based on the Baltic Kamsarmax Index (BKI).
Furthermore, the company said the 2016-built Nisea and the 2009-built Cretansea, both kamsarmaxes, have both had their existing charters extended in October and November, respectively, in direct continuation from the previous agreements.
The extension period for the Nisea commenced on October 22, 2025, for a duration of minimum 10 months to maximum 12 months. The new gross daily hire is based on the BKI, while all other main terms of the time charter remain materially unchanged.
The extension period for the Cretansea will commence in December 2025, for a duration of minimum 10 months to maximum 14 months. The daily hire is based on the BKI, while all other main terms of the time charter remain materially unchanged.
Stamatis Tsantanis, the company’s chairman and chief executive officer, stated: “In terms of our commercial developments, we have secured three new time charters with leading counterparties, preserving full exposure to panamax/kamsarmax market strength. All employments involve index linked rates with direct exposure to the panamax and kamsarmax market.”
Tsantanis added: “We continue to actively monitor the market developments and evaluate opportunities in the FFA market to secure attractive forward coverage at favorable rates.”
Currently, the company operates a fleet of five dry bulk vessels, comprising two kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 396,297 dwt.
