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Diana Shipping enters time charter contract with Glencore

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, through a separate wholly-owned subsidiary, has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Ice Class panamax dry bulk vessels, the m/v Crystalia.

The gross charter rate is US$11 100/day, minus a 5% commission paid to third parties, for a period of minimum 12 months to about 15 months. The charter is expected to commence on 3 October. The m/v Crystalia is currently chartered, as previously announced, to SwissMarine Services S.A., Geneva, at a gross charter rate of US$625/day, minus a 5% commission paid to third parties.

The “Crystalia” is a 77 525 DWT Ice Class panamax dry bulk vessel built in 2014.

This employment is anticipated to generate approximately US$4 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (four newcastlemax, 14 capesize, five post-panamax, five kamsarmax and 23 panamax).

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This article has been tagged under the following:

Grain cargo news Dry bulk shipping market Panamax news