Pallas Group has through its subsidiary, Ocean Rederi AB, extended the timecharter contract with Erik Thun AB for the vessel M/V Pallas Ocean for another 12 months. The 12 month period began on l February.
“We are now entering the 5th year as owner of M/V Pallas Ocean and in a bad market because of over capacity of ships. It is now necessary to hold out until the market turns around and this we will do with Thun companies that have a tremendous expertise in this type of shipping and a very good relationship with the cargo owners” said Pallas Group’s CEO, Fredrik Johansson.
Pallas Shipping is active in the maritime and shipping sector, including ship brokerage. Pallas Shipping stands on three legs; Sales and Purchase, Ship management and Shipowning.
World Maritime News Staff, February 17, 2012; Image: Pallas Group