Diana Shipping Inc., through a separate wholly-owned subsidiary, has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its panamax dry bulk vessels, the m/v Leto.
The gross charter rate is US$12 500/day, minus a 5% commission paid to third parties, for a period of minimum 16 months to about 19 months. The new charter period is expected to commence on 3 January 2018. The m/v Leto is currently chartered at a gross charter rate of US$7750/day, minus a 5% commission paid to third parties.
The “Leto” is a 81 297 DWT panamax dry bulk vessel built in 2010.
The employment extension of “Leto” is anticipated to generate approximately US$6 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (four newcastlemax, 14 capesize, five post-panamax, five kamsarmax and 22 panamax). Currently, the combined carrying capacity of the xompany’s fleet is approximately 5.8 million DWT.