Diana Time Charters Kamsarmax Dry Bulk With Glencore


  • Diana Shipping Inc will be chartering the 2010-built Kamsarmax dry bulk vessel, the m/v Myrsini.
  • This contract with Glencore Agriculture B.V., Rotterdam commenced on December 22, 2018.
  • The gross charter rate is US$12,750 per day for minimum 10 to maximum 12 months.
  • The new developments are set to generate a revenue of US$3.83 million gross.

Diana Shipping Inc,announced on January 1st, 2019 that, it has entered into a time charter contract for one of its Kamsarmax dry bulk vessels, the m/v Myrsini, says a press release.

What is in the contract?

The contract was signed through a separate wholly-owned subsidiary,with Glencore Agriculture B.V., Rotterdam.The gross charter rate is US$12,750 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum twelve (12) months.The charter commenced on December 22, 2018. The m/v Myrsini was chartered, as previously announced, to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of US$8,650 per day, minus a 5% commission paid to third parties.

Expected Revenue Returns

The “Myrsini” is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010. This employment is anticipated to generate approximately US$3.83 million of gross revenue for the minimum scheduled period of the time charter.

About the Company

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 9.11 years.

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Source: SeaNews


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