Precious Shipping has fixed its newly delivered ultramax Rossarin Naree to Oman's Asyad Shipping for 12 to 14 months at a gross rate equivalent to 108% of the Baltic Exchange Supramax Index 63K weighted time-charter average — worth around $24,000 per day at current levels.

The charter began on October 1. The Thai dry bulk owner, led by Khalid Hashim, priced the deal against the index average over the preceding 15 days, keeping earnings exposed to the spot market while securing a long employment window for the 63,500 dwt vessel.

The Rossarin Naree joined the fleet at the end of May from China's Taizhou Sanfu Ship Engineering. She is the first in a four-ship ultramax series ordered in 2024 for a combined $133.46m, or roughly $33.36m apiece.

What does the fixture tell us about Precious's chartering strategy?

The Asyad deal extends a run of index-linked fixtures across Precious's larger bulker fleet, a pattern that lets the owner monetise new tonnage immediately while retaining upside if Supramax rates climb.

The numbers stack up quickly:

• Ratima Naree, a sistership delivered this year, went straight to Trafigura Maritime Logistics last month for 12 to 14 months at 107.5% of the BSI 63K — about $22,800 per day when the charter started.
• Sunisa Naree, a 2016-built ultramax, was fixed to Singapore's PACC Line a couple of weeks later for 11 to 13 months at 103% of the same index, then equivalent to roughly $23,000 per day.
• Rossarin Naree now anchors the top of that range at 108%, signalling firmer index premiums as newer tonnage commands stronger pricing.

For charterers, the index-linked structure offers the opposite hedge: fixed-period cover without locking an absolute rate, useful for cargo programmes that flex with market cycles.

Who is Asyad and why does the deal matter?

Asyad's Singapore operation has assembled a substantial chartered dry bulk book. The Oman-based group said its Singapore desk managed an average of 25 dry bulk ships in 2024, running a strategy weighted towards medium- and long-term chartering rather than spot tripping.

Adding a fresh ultramax at a 108% index premium fits that profile. For Precious, Asyad joins Trafigura and PACC Line on a charterer list that spans trader, regional liner and state-backed operator demand for Supramax and ultramax tonnage.

How far is Precious expanding its fleet?

The fixture lands amid an aggressive newbuild programme. This week Precious returned to Sanfu for another four larger 64,500 dwt ultramaxes at $35.45m each — a $141.8m package scheduled for delivery between April 2030 and January 2031.

Once those ships and the two outstanding vessels from the earlier series arrive, Precious expects its fleet to reach 47 vessels totalling about 2.34m dwt.

The pricing trend across the two orders is notable: the 64,500 dwt newbuilds cost about $2.1m more per ship than the 63,500 dwt series contracted in 2024, reflecting both the larger specification and yard pricing pressure in the interim.

What comes next?

With two more ships from the first Sanfu series still to deliver and the 2030-31 batch behind them, Precious has built a pipeline that practically guarantees more index-linked fixtures in the months ahead — and each one will land at whatever premium the BSI 63K market will bear.