Cyprus-based ownership-led maritime investment and asset management platform Pelagic Partners has secured a 9-11 month time charter for the bulk carrier UBC Houston with a ‘major commodity trader’ at a rate of US$ 17,250 per day.
Acquired in June 2023, UBC Houston is a 2015-built, 39,000-dwt bulk carrier constructed at Chengxi Shipyard in China.
The vessel forms part of the Pelagic Yield Fund and is actively trading within the UBC Pool.
Pelagic Partners said the 9-11-month charter period provides a balance between near-term earnings visibility and the ability to participate in the evolving market environment.
It added that the latest fixture reflects its continued focus on securing employment that provides visibility of cash flow while maintaining exposure to favourable developments in the dry bulk market.
“The fixture is in line with our strategy of maximising cash flow from operations while capitalising on improving market conditions, while continuing to actively manage the portfolio and optimise vessel employment,” the company explained in its statement.
