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Korea to Open up Job Opportunities for Indian Seafarers

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Written by Maritime First

…As Diana Shipping Fetches Higher Rate for Its Panamax***

India has signed an agreement with the Republic of Korea to open up employment opportunities for Indian seafarers on Korean ships.

Under the Memorandum of Understanding, the countries said they would mutually recognize the certificates of maritime education and training, competency, endorsements and medical fitness of seafarers issued by each other.

The agreement was signed by Shri Nitin Gadkari, Ministry of Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation and his Korean counterpart Kim Young-choon in Busan on April 10.

India and Korea are currently looking to strengthen their bilateral cooperation in shipping, ports, inland waterways, and other.

Meanwhile, Greek dry bulk owner Diana Shipping has entered into a time charter contract with Luxembourg-based United Bulk Carriers International for one of its Panamax vessels.

Under the agreement, the company’s 76,225 dwt bulker Melia would be chartered for a period of seventeen to twenty months.

Diana Shipping said that the vessel’s gross charter rate for the period would be at USD 12,000 per day. The 2005-built Panamax is expected to start commence the latest charter contract on April 20, 2018.

This employment is to generate some USD 6.12 million of gross revenue for the minimum scheduled period of the time charter.

Melia is currently chartered to the Italian company Nidera at a gross charter rate of USD 9,500 per day.

World Maritime News

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