Cyprus-based Pelagic Partners has fixed its 39,000 dwt handysize bulker UBC Houston to a major commodity trader at $17,250 per day for nine to 11 months, securing medium-term employment for the vessel while locking in roughly $4.7m to $5.8m in gross hire.

The company did not name the charterer. The rate sits at the fixture's headline level before commissions, off-hire and other deductions, which will trim the net revenue Pelagic actually banks over the charter period.

What does the deal cover?

The UBC Houston is a 2015-built handysize dry bulk carrier constructed at Chengxi Shipyard. It forms part of the Pelagic Yield Fund and trades within the UBC Pool.

The time charter runs between nine and 11 months. That horizon gives Pelagic cover well into 2025 while returning the ship to the spot or period market next year — a positioning choice that matters if dry bulk rates move sharply in either direction.

Pelagic acquired the vessel in June 2023 as part of a push to expand its dry bulk exposure. That purchase took the fund compartment holding the ship to seven vessels and lifted Pelagic's total acquired fleet since inception to 18 units.

How does the fixture fit Pelagic's dry bulk build-out?

The charter extends a pattern. Pelagic's wider shipping investment platform has been actively adding dry bulk tonnage this year.

In July, Oslo-listed Pelagic Credit struck a $47.4m sale-and-leaseback deal covering three Hartmann-controlled handysize bulkers — its first investment in the sector. The ships went back to Hartmann on seven-year bareboat charters, giving the German owner long-term employment while Pelagic Credit took the asset risk.

Taken together, the two moves show a fund manager deploying capital across dry bulk through both direct period cover and structured sale-and-leaseback exposure, rather than relying on spot trading alone.

Why does an 11-month charter matter for the market?

A commodity trader taking a handysize for up to 11 months at $17,250 per day signals an operator willing to commit tonnage capacity nearly a year ahead. For shipowners, period cover at that level de-risks revenue without surrendering the vessel indefinitely; the ship comes back open next year, when the owner can re-fix at whatever the market then pays.

For charterers, the deal secures flexible mid-sized tonnage — the 39,000 dwt segment that serves regional trades, including grains, fertilisers and minor bulk flows — at a known daily cost.

The gross hire maths is straightforward: at $17,250 per day across the nine-to-11-month window, the contract generates approximately $4.7m to $5.8m before deductions.

The fixture leaves Pelagic with a clearly defined earnings profile for the UBC Houston into next year, with the redelivery date positioning the vessel to re-enter a market whose direction will depend on how handysize supply and minor bulk demand evolve through 2025.