Dry bulk shipping company Diana Shipping Inc. has agreed to extend the present time charter contract with Clearlake Shipping Pte. Ltd., Singapore, a member of the Gunvor Group, for one of its Capesize dry bulk vessels, the m/v Boston.
The extension covers a period of about twenty-two months to about twenty-six months.
The gross charter rate is USD 13,000 per day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on August 9, 2015.
The “Boston” is a 177,828 dwt Capesize dry bulk vessel built in 2007.
Diana said that the employment extension is anticipated to generate approximately USD 8.4 million of gross revenue for the minimum scheduled period of the time charter.
Diana’s fleet currently consists of 41 dry bulk vessels. The company also expects to take delivery of four newbuilds, one Capesize, two Newcastlemaxes and a Kamsarmax dry bulk vessel by the third quarter of 2016.