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Diana Shipping enters time charter contract with Phaethon

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Dry Bulk,

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with Phaethon International Company AG, for one of its panamax dry bulk vessels, the m/v Naias.

The gross charter rate is US$10 000/day, minus a 5% commission paid to third parties, for a period of about 15 months to maximum 18 months. The charter is expected to commence on 24 November 2017. The m/v Naias was chartered, as previously announced, to Glencore Agriculture B.V., Rotterdam, at a gross charter rate of US$7500/day, minus a 5% commission paid to third parties.

The “Naias” is a 73 546 DWT panamax dry bulk vessel built in 2006.

This employment is anticipated to generate approximately US$4.35 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). The combined carrying capacity of the company’s fleet now stands at approximately 5.8 million DWT with a weighted average age of 8.23 years.

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Grain cargo news Panamax news