Diana Shipping Inc. Announces Time Charter Contract With Cargill

Credit: shaah-shahidh-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 Panamax dry bulk vessels, the m/v Maera, says an article published on their website.

Gross charter rate

The gross charter rate is US$12,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum October 28, 2023 up to maximum December 28, 2023.

The charter commenced.

Gross revenue

The “Maera” is a 75,403 dwt Panamax dry bulk vessel built in 2013.

The employment of “Maera” is anticipated to generate approximately US$3.74 million of gross revenue for the minimum scheduled period of the time charter.

Fleet currently consists

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 7 Ultramax).

The Company also expects to take delivery of 2 Ultramax dry bulk vessels in the fourth quarter of 2022.

Weighted average age

The combined carrying capacity of the Company’s fleet, excluding the 2 Ultramax dry bulk vessels not yet delivered, is approximately 4.8 million dwt with a weighted average age of 10.21 years.

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Source: Diana Shipping