High Shipping Costs Are Here to Stay Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Upon delivery of the vessels in 2015 and 2016, the ships will be immediately placed on long term (204 month) charter contracts with Mediterranean Shipping Company (MSC) at a day rate of USD $25,000.00 per vessel per day.
Following expiration of the charter contracts, the vessels will be sold to MSC for a consideration of USD $21.5 million.
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