Glencore Extends M/V Oceanis Charter

Dry bulk operator Diana Shipping Inc. has agreed to extend the present time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Oceanis.

The extension is for a period of minimum eleven to maximum fourteen months.

Gross charter rate amounts to USD 4,500 per day for the first fifty days of the charter period and USD 7,200 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter commenced yesterday.

The “Oceanis” is a 75,211 dwt Panamax dry bulk vessel built in 2001.

This employment extension is anticipated to generate approximately USD 2.24 million of gross revenue for the minimum scheduled period of the time charter, Diana said.

Diana Shipping’s fleet currently consists of 40 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The company also expects to take delivery of two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016.

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