Precious Shipping locks in $24k/day ultramax charter with Asyad
Thai owner fixes 63,500 dwt Rossarin Naree to Oman’s Asyad for up to 14 months at index-linked rate.
Thai shipping firm Precious Shipping has secured a new charter agreement for its ultramax vessel Rossarin Naree with Oman’s Asyad Shipping, marking another index-linked deal for its expanding fleet.
The 63,500-deadweight-tonne (dwt) ship, delivered in late May from China’s Taizhou Sanfu Ship Engineering, began its 12-to-14-month charter on October 1. The contract is priced at a variable rate equivalent to 108% of the Baltic Exchange Supramax Index 63K, averaging the preceding 15 days. This translates to approximately $24,000 per day under current market conditions.
The Rossarin Naree is the first of four ultramax vessels ordered by Precious in 2024, with a total investment of $133.46 million, or roughly $33.36 million per ship. The company has been actively deploying its newbuilds under similar index-linked agreements.
Last month, its sister vessel Ratima Naree was chartered to Trafigura Maritime Logistics for 12 to 14 months at 107.5% of the same Baltic index, then valued at around $22,800 per day. Shortly after, the 2016-built ultramax Sunisa Naree was fixed to Singapore’s PACC Line for 11 to 13 months at 103%, equivalent to about $23,000 per day at the time.
Fleet expansion and Asyad’s chartering strategy: Precious Shipping
Precious Shipping continues to grow its ultramax fleet, recently ordering four additional 64,500 dwt vessels from Taizhou Sanfu for $35.45 million each. The $141.8 million package is scheduled for delivery between April 2030 and January 2031. Once all newbuilds and pending vessels join the fleet, Precious expects to operate 47 ships with a combined capacity of around 2.34 million dwt.
Meanwhile, Asyad Shipping’s Singapore desk has been expanding its dry bulk chartering operations. The Oman-based group reported managing an average of 25 dry bulk vessels in 2024, prioritizing medium- and long-term agreements as part of its strategic approach.
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