With the recent improvement across the dry bulk market, Pelagic Partners has secured a 9–11 month time charter for UBC Houston with a major commodity trader at a rate of USD 17,250 per day.
Acquired in June 2023, UBC Houston is a 2015-built, 39,000 dwt bulk carrier constructed at Chengxi Shipyard in China. The vessel forms part of the Pelagic Yield Fund and is actively trading within the UBC Pool, supporting Pelagic Partners’ strategy of combining diversified vessel employment with active commercial management.
The latest fixture reflects Pelagic Partners’ continued focus on securing employment that provides visibility of cash flow while maintaining exposure to favourable developments in the dry bulk market. The 9–11-month charter period provides a balance between near-term earnings visibility and the ability to participate in the evolving market environment.
The fixture is in line with our strategy of maximising cash flow from operations while capitalising on improving market conditions, while continuing to actively manage the portfolio and optimise vessel employment.
