Diana Shipping Inc. Announces Time Charter With Cargill

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  • The Diana Shipping Company enters into a time charter contract with Cargill International S.A.
  • The gross charter rate is US$11,000 per day, minus a 4.75% commission paid to third parties
  • Anticipated gross revenue for the minimum scheduled period of the time charter is approximately US$4.52 million.

Diana Shipping Inc. has entered into a time charter contract with Cargill International S.A., Geneva, for m/v Medusa, says a press release published on their website. 

Time charter contract

Diana Shipping Inc. has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Medusa. 

Charter rate

  • The gross charter rate is US$11,000 per day, minus a 4.75% commission paid to third parties.
  • The charter period is until (minimum) 10 January 2022 up to (maximum) 20 March 2022. 

The new charter period is expected to commence by mid-November 2020.

  • The “Medusa” is a 82,194 dwt Kamsarmax dry bulk vessel built in 2010.
  • This employment is anticipated to generate approximately US$4.52 million of gross revenue for the minimum scheduled period of the time charter.

Diana’s fleet

Upon completion of the previously announced sales of the below vessels, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels. The vessels are:

  • one Panamax dry bulk vessel, the m/v Coronis, and 
  • one Capesize dry bulk vessel, the m/v Sideris GS.

The fleet:

  • 4 Newcastlemax, 
  • 12 Capesize, 
  • 5 Post-Panamax, 
  • 5 Kamsarmax and 
  • 12 Panamax. 

As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis and the m/v Sideris GS is approximately 5.0 million dwt with a weighted average age of 10.09 years.

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source:Diana Shipping Inc

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