Diana Shipping Inc. Announces Time Charter Contract With Cargill

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Credit: ian-taylor-unsplash

Diana Shipping Inc. 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 Leonidas P. C, says an article published on their website.

Commission paid

The gross charter rate is US$17,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum eleven  months to maximum thirteen  months. The charter commenced earlier today.

The “Leonidas P. C.” is a 82,165 dwt Kamsarmax dry bulk vessel built in 2011.

Minimum scheduled period

The employment of “Leonidas P. C.” is anticipated to generate approximately US$5.61 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels . The Company also expects to take delivery of 1 Ultramax dry bulk vessel by the beginning of April of 2023.

Weighted average age

The combined carrying capacity of the Company’s fleet, excluding the 1 Ultramax dry bulk vessel not yet delivered, is approximately 4.7 million dwt with a weighted average age of 9.95 years.

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Source: Diana shipping inc

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