Diana Shipping Finds Work for Bulker Pair

Athens-based dry bulk specialist Diana Shipping has entered into time charter contracts for two of its vessels, Astarte and Erato. 

The 81,513 dwt Astarte will start working for Rotterdam-based Glencore Agriculture from June 12, 2017. The gross charter rate is USD 9,000 per day for a period of minimum fourteen to maximum seventeen months.

The 2013-built Kamsarmax bulker was delivered to Diana Shipping from compatriot shipping company Thenamaris last week. The ship was bought for USD 22.6 million in late April.

Furthermore, Diana revealed it has inked a time charter deal with Phaethon International Company for one of its Panamax dry bulk vessels, the 2004-built Erato. The gross charter rate for the 74,444 dwt ship is USD 7,250 per day for a period of about five months up to December 30, 2017. The charter commenced on May 25.

As disclosed, the employments of Astarte and Erato are anticipated to generate approximately USD 4.76 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping’s fleet currently comprises 50 dry bulk vessels with the combined carrying capacity of 5.8 million dwt and a weighted average age of 7.87 years.

The company also expects to take delivery of one Post-Panamax ship by the end of May 2017.

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