Hellenic signs newbuilding contracts

Each of the newbuildings will cost $34.2m in total (contract price of $34m each plus $200,000 in respect of additions to the basic specification) with delivery of the first vessel scheduled for January 2013 and the second vessel for March 2013.

In addition, the shipbuilder has granted an option to be declared by 1 September 2010 for a third Kamsarmax vessel on the same terms and with delivery in May 2013.