As previously announced, the Alcmene is chartered to Cargill International S.A., Geneva for a period of about twenty-three (23) to about twenty-five (25) months, at a gross charter rate of US$20,250 per day. The charter is expected to commence on November 20, 2010.
This employment is anticipated to generate approximately US$14 million of gross revenue for the minimum scheduled period of the charter. The Company also announced that it has entered into a time charter contract with Minmetals Logistics Group Co. Ltd., Beijing, for one of its Capesize dry bulk carriers, the m/v Aliki, at a gross charter rate of US$26,500 per day for a period of minimum fifty-nine (59) to maximum sixty-one (61) months. The charter is expected to commence in the beginning of March 2011. The m/v Aliki is a 180,235 dwt Capesize dry bulk carrier built in 2005.
This employment is anticipated to generate approximately US$47 million of gross revenue for the minimum scheduled period of the charter.
