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Diana Shipping announces two time charter updates

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Dry Bulk,

Through a separate wholly-owned subsidiary, Diana Shipping has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its capesize dry bulk vessels, the m/v Baltimore, for a minimum period of 13 months to about 16 months. The gross charter rate is US$11 300/day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on 3 February 2017.

The “Baltimore” is a 177 243 DWT capesize dry bulk vessel built in 2005.

The global shipping company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Noble Resources International Pte Ltd, Singapore, for one of its panamax dry bulk vessels, the m/v Arethusa. The gross charter rate is US$7200/day, minus a 5% commission paid to third parties, for a period of minimum 10 months to maximum 14 months. The charter commenced on 23 January 2017.

The “Arethusa” is a 73 593 DWT panamax dry bulk vessel built in 2007.

The employment extension of “Baltimore” as well as the employment of “Arethusa” are anticipated to generate approximately US$6.57 million of gross revenue for the minimum scheduled period of the time charters.

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Panamax news Capesize news