SAFBANK HAS secured the long-term charter of four multi-purpose vessels in the five-strong fleet serving the Southern Africa - Americas - West Africa trade.
The charter agreement for the Agulhas, Columbine, Doctor and Charles Lykes is effective until the year 2001.
Lykes Lines has sub-chartered the Doctor and Charles Lykes from SafBank for three and a quarter years.
In terms of the agreement between the two lines, SafBank operates the Agulhas, Columbine and Olivebank while Lykes operates the remaining two vessels.
The charter arrangement reduces SafBank's exposure in this charter market sector where availability of suitable vessels is limited, SafBank c.e.o. Mike Veary told FTW.
