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Diana Shipping enters another time charter contract

Published by , Assistant Editor
Dry Bulk,

Yesterday, through a separate wholly-owned subsidiary, Diana Shipping Inc., entered into a time charter contract with Cargill International S.A., Geneva, for one of its kamsarmax dry bulk vessels, the m/v Medusa. The gross charter rate is US$14 000/d, minus a 4.75% commission paid to third parties, for a period of 13 – 15 months. The new charter period commenced yesterday. The m/v Medusa was chartered, as previously at a gross charter rate of US$10 000/day, minus a 4.75% commission paid to third parties.

The “Medusa” is a 2010-built, 82 194 DWT kamsarmax dry bulk vessel.

This agreement is anticipated to generate approximately US$5.46 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 (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 22 panamax). With this recent addition, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 9.03 years. 

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