Diana Shipping Inc. Announces Time Charter With Cargill

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Diana Shipping Inc. (NYSE: DSX) 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 Artemis, says a press release published on their website.

Gross charter rate

The gross charter rate is US$21,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum June 20, 2023 up to maximum August 20, 2023. The charter commenced earlier today.

The m/v Artemis was chartered, as previously announced, to Glencore Agriculture B.V., Rotterdam, at a gross charter rate of US$10,250 per day, minus a 5% commission paid to third parties.

The “Artemis” is a 76,942 dwt Panamax dry bulk vessel built in 2006.

The employment of “Artemis” is anticipated to generate approximately US$9.54 million of gross revenue for the minimum scheduled period of the time charter.

Diana’s fleet

Diana Shipping Inc.’s fleet currently consists of 34 dry bulk vessels

  • 4 Newcastlemax,
  • 11 Capesize,
  • 5 Post-Panamax,
  • 6 Kamsarmax and
  • 8 Panamax.

The Company also expects to take delivery of one new-building Capesize dry bulk vessel by March 29, 2022. As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.57 years.

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Source: Diana Shipping

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