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Diana Shipping to extend time charter contract for m/v Astarte

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its kamsarmax dry bulk vessels, the m/v Astarte.

The gross charter rate is US$14 250/d, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months. The new charter period commenced on 16 October. The m/v Astarte was chartered, as previously announced, at a gross charter rate of US$9000/d, minus a 5% commission paid to third parties.

The Astarte is a 81 513 dwt kamsarmax dry bulk vessel built in 2013.

The employment extension of Astarte is anticipated to generate approximately US$5.99 million of gross revenue for the minimum scheduled period of the time charter extension.

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Dry bulk shipping market