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Diana Shipping announces time charter contract with Cargill

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Dry Bulk,

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Leonidas P.C.

The gross charter rate is US$17 000/d, minus a 4.75% commission paid to third parties, for a period of minimum 11 months to maximum 13 months.

The Leonidas P.C. is a 82 165 dwt Kamsarmax dry bulk vessel built in 2011.

The employment of Leonidas P.C. is anticipated to generate approximately US$5.61 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax, and 9 Ultramax). The company also expects to take delivery of 1 Ultramax dry bulk vessel by the beginning of April 2023.

As of 17 March, the combined carrying capacity of the company’s fleet, excluding the 1 Ultramax dry bulk vessel not yet delivered, is approximately 4.7 million dwt with a weighted average age of 9.95 years.

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