Thailand’s Precious Shipping has secured an index-linked charter for its ultramax Sunisa Naree with Singapore’s PACC Line, covering a period of 11 to 13 months. Splash 247 reported that the Bangkok-listed shipowner disclosed the agreement to the stock exchange, with the employment beginning on 23 September. The fixture adds to another index-linked ultramax deal concluded by the company earlier in the month.
The Sunisa Naree’s gross variable hire is set at 103% of the Baltic Exchange Supramax Index 63K weighted time-charter average for the previous 15 days. Precious estimated that the formula currently translated into approximately $23,000 a day, according to Splash 247. That figure is a current equivalent rather than a fixed daily rate for the full charter period. Built in 2016, the vessel has a deadweight capacity of roughly 63,000 tonnes and was delivered by China’s Taizhou Sanfu Ship Engineering.
The agreement follows the placement of the newly delivered Ratima Naree with Trafigura Maritime Logistics. That vessel entered a 12-to-14-month charter directly after delivery from Sanfu, with hire linked to 107.5% of the BSI 63K. At the start of that fixture, the rate was equivalent to about $22,800 a day. Both agreements therefore link earnings to the benchmark, although their percentage terms and charter duration ranges differ.
The fixtures come as Precious moves towards a younger fleet of larger bulk carriers while disposing of older handysize and supramax vessels. Splash 247 said the owner’s Sanfu newbuilding programme comprises four 63,500 dwt ultramaxes at a total cost of $133.46m. Two have been delivered, with the other two scheduled to arrive through the first quarter of 2027. Led by Khalid Hashim, Precious has also begun expanding beyond dry bulk this year, taking exposure to MR tankers both directly and through Nusantara Maritime, a venture in which it holds a 45% stake.