Pallas Shipping is negotiating with a major European oil companies on an employment contract for the company´s vessel M/T Pallas Glory.

The parties have made considerable progress in the negotiations which may mean that any contract signing can take place in late June 2012.

Will the parties agree that the ship should immediately start transporting different diesel products.

The agreement is of type Time charter contracts, which would mean profit and cash flow for the ship from day one.

”We look with great confidence in the negotiations with this potential customer we are delighted to have been contacted by because of Pallas Glory´s specific characteristics, we hope that we reach our goals with the client so that we can show that both we and the vessel can do a good job and so as to build a long lasting relationship” said Fredrik Johansson CEO (Pallas Shipping).