The prospectus filed in connection with the issue shows that the entire fleet is covered by period employment until February 1999.
The company states that "the strategy has been and will continue to be to generate revenues under long-term contracts using period charters for all vessels in order to maximise vessel utilisation and enhance stability of cash flow and earnings".
Over the last five years all revenues from the ships were derived from a series of one-year charters with either Cementos Mexicanos (Cemex) or the Clipper group.
Three
