Diana Shipping Extends One, Inks Another Charter Deal

Athens-based dry bulk owner Diana Shipping has extended the existing time charter contract with Cargill International, Geneva, for its Capesize vessel and entered into a time charter deal with Noble Resources International, Singapore, for a Panamax ship.

The M/V Baltimore was hired for an additional period of minimum thirteen to maximum sixteen months.

The new charter period is expected to commence on February 3, 2017, with the gross charter rate of USD 11,300 per day, according to the company.

The 177,243 dwt Baltimore was built at Japan’s Namura shipyard in 2005.

Furthermore, Diana Shipping decided to charter out its Panamax bulker, the M/V Arethusa. The gross charter rate is USD 7,200 per day for a period of minimum ten to maximum fourteen months. The charter began on January 23, 2017.

The 73,593 dwt Arethusa was built by Chinese shipbuilder Jiangnan Shanghai Changxing Heavy Industry in 2007.

“The employment extension of Baltimore as well as the employment of Arethusa are anticipated to generate approximately USD 6.57 million of gross revenue for the minimum scheduled period of the time charters,” Diana Shipping said.

Diana Shipping’s fleet is currently comprised of 48 dry bulk vessels. As of January 25, 2017, the combined carrying capacity of the company’s fleet is around 5.7 million dwt with a weighted average age of 7.65 years.

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