SPT has fixed the Nissos Amorgos on a 12 month time charter at a rate which
reflects the current market.
The ship is 1987 built and owned by Glafki group of Greece. The ship suits
our program well as she is double sided and narrow beam which allows for
unrestricted sailing to certain ports that SPT services. SPT has had the
ship on charter before and the experience has been good.
The longer term period chartered newbuilding Aframax tanker reported on 3
November 1999 has now been amended in our favour to be 3 years firm period
(instead of 5 years) with our option for two further annual periods charter.
These terms were changed in our favour as compensation for certain minor
changes in the new building specifications from what was agreed.