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Diana Shipping new time charter contracts with Glencore

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Dry Bulk,


Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has through a separate and wholly-owned subsidiary entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its panamax dry bulk vessels, the m/v Erato. The gross charter rate is US$4650/day, minus a 5% commission paid to third parties, for a period of about eleven months to maximum fourteen months. The charter commenced on 26 March 2016.

The Erato is a 74 444 DWT panamax dry bulk vessel built in 2004.

The company also, through a separate wholly-owned subsidiary, entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its ice-class panamax dry bulk vessels: the m/v Atalandi. The gross charter rate is US$5300/day, minus a 5% commission paid to third parties, for a period of minimum twenty months to maximum twenty-five months. The charter also commenced on 26 March 2016.

The Atalandi is a 77 529 DWT ice-class panamax dry bulk vessel built in 2014.

The employments of Erato and Atalandi are peojected to generate approximately US$4.6 million of gross revenue for the minimum scheduled period of the time charters.

Read the article online at: https://www.drybulkmagazine.com/rail-barge/29042016/diana-shipping-new-time-charter-contracts-with-glencore/

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