Diana Shipping announces time charter agreement with Cargill

Published by Joe Toft, Editorial Assistant
Global Mining Review, Thursday, 29 December 2022 12:00

Diana Shipping Inc., a global shipping company specialising in the ownership and bareboat charter-in of dry bulk vessels, has 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. The gross charter rate is US$12 000 per day, minus a 4.75% commission paid to third parties, for a period until minimum 28 October 2023 up to maximum 28 December 2023.

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.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (four newcastlemax, 11 capesize, five post-panamax, six kamsarmax, eight panamax and seven ultramax). The company also expects to take delivery of two ultramax dry bulk vessels in 4Q22. As of December 2022, the combined carrying capacity of the company’s fleet, excluding the two ultramax dry bulk vessels not yet delivered, is approximately 4.8 million dwt with a weighted average age of 10.21 years.

Read the article online at: https://www.globalminingreview.com/mining/29122022/diana-shipping-announces-time-charter-agreement-with-cargill/

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