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Diana Shipping Inc. announces direct continuation of time charter contract

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Dry Bulk,


Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, 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 Medusa. The gross charter rate is US$11 000/d, minus a 4.75% commission paid to third parties, for a period until minimum 10 January 2022 up to maximum 20 March 2022. The new charter period is expected to commence by mid-November 2020.

The Medusa is a 82 194 DWT Kamsarmax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$4.52 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels (four Newcastlemax, 12 Capesize, five Post-Panamax, five Kamsarmax and 12 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis and the m/v Sideris GS, is approximately 5.0 million DWT with a weighted average age of 10.09 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/10112020/diana-shipping-inc-announces-direct-continuation-of-time-charter-contract/

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