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Diana Shipping enters time charter contract with Glencore Agriculture

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Dry Bulk,

Diana Shipping Inc. has entered, through a separate wholly-owned subsidiary, into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Maia.

The gross charter rate is US$13 300/d, minus a 5% commission paid to third parties, for a period until minimum 1 January 2020 up to maximum 31 March 2020. The charter commenced on 12 November. The m/v Maia was chartered, as previously announced, at a gross charter rate of US$10 125/d, minus a 5% commission paid to third parties.

The Maia is a 82 193 DWT Kamsarmax dry bulk vessel built in 2009.

This employment is anticipated to generate approximately US$5.44 million of gross revenue for the minimum scheduled period of the time charter.

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Dry bulk shipping market