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Tim,
Jan 02 11:58 am
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All Comments by cartledge »Genco Shipping's New Bulk Carrier Leased at a Whopping Rate [View article]
The good news was the delivery of the ship. Not the contract rate. The rate was negotiated months ago as someone else said. The previous guidance from Genco was that the ship would not be delivered till 2009. The delivery on time was a "surprise" that may have bounced the stock.
Once again - 0 due to the contract, much due to the fact that the contract will be honored.