Please turn now to slide five, to briefly discuss some important company highlights. We recently announced that the vessel Star Sigma, which was time chartered to Pacific Bulk Shipping Ltd. of Hong Kong until October 2013 at a gross daily rate of 38,000 was readily available to Star Bulk Carriers.Pacific Bulk has paid us a lump sum of $5.7 million in cash for the early delivery of this vessel. In addition to the lump sum payment, Pacific Bulk, supplied Star Sigma with 1,027 metric tons of fuel, valued approximately at $700,000. Following its delivery to us, the Star Sigma was employed in the spot market under a four year charter at a gross daily time charter equivalent rate of approximately 29,400, and is expected to complete its voyage, end March 2012.
Star Bulk Carriers' CEO Discusses Q4 2011 Results - Earnings Call Transcript
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