Partner Tim Brennan says Penfield has taken the 73,00-dwt Hellespont Protector (built 2007) for one year, with a one-year option, at a level he would not disclose but calls market rate. “We’ve known Hellespont for quite a long time and we’re very happy to be working with them,” Brennan said.
Penfield takes delivery of the coated panamax, which has been trading crude cargoes, in the first half of March in the US Gulf, Brennan says.
Penfield disclosed its first chartered-in vessel earlier this month, saying it had taken in the 73,000-dwt Stena Callas (built 2004) for one year at an undisclosed rate.
Brennan and partner Eric Haughn, both former executives at Connecticut-based pools power Heidmar Inc, founded Penfield last autumn as a fledgling ship-management venture. It has since drawn financial backing from Heidmar founder Per Heidenreich and hired two veteran ex-Heidmar managers, Charles Tammara and Jerry Townsend.
Penfield’s initial plan is to charter in modern tonnage and trade it on the spot market, Brennan tells TradeWinds.