Diana Shipping Inc. Announces Time Charter With Glencore

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Diana Shipping Inc. has entered into a time charter contract for m/v Artemis with Glencore, says a press release published on their website.

Time charter contract

Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Artemis. 

Charter rate & revenue

Gross charter rate

The gross charter rate is US$10,250 per day, minus a 5% commission paid to third parties, for a period until minimum January 5, 2022 up to maximum March 30, 2022. 

The charter commenced earlier today. 

The m/v Artemis was chartered, as previously announced, to  Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$10,150 per day, minus a 5% commission paid to third parties.  

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

Gross revenue

This employment is anticipated to generate approximately US$4.06 million of gross revenue for the minimum scheduled period of the time charter. 

Diana’s fleet

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels. 

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 10.15 years. 

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Source: Diana Shipping Inc.

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