Examples of use of time charter
1. Currently, all Adnatco tankers are engaged in time charter and COA (cost of affreightment) business in the Arabian Gulf, transporting clean, dirty and chemical products.
2. The vessel, which cost Gulf Navigation AED403 million, was handed over to TMT of Taiwan soon after delivery, on a three–year time charter at the rate of $ 52,000 per day.
3. Interviewed at his niece‘s home in Glen Gardner, N.J., Innella was preparing for a pre–dawn flight to Antigua; he is back at work as a full–time charter pilot at one–third of his former salary.
4. Meanwhile, a statement from GNH yesterday, said that the company and ST Shipping and Trading, Switzerland–based Glencore’s shipping arm, one of the largest oil trading houses in the world, have signed a time charter agreement for three ships at an approximate value of $40 million (AED145 million). Under the terms of the agreement, GNH will time–charter two ships to ST Shipping and Trading for up to two years under long–term fixed rate employment, and a third at a floating market rate with a fixed minimum charter rate.
5. Timecharter: On the period front, it has been reported that a 1''3–built double–hull Suezmax tanker has been fixed for 12 months time–charter at $37,000 per day which looks like quite an attractive deal over the next year.