Diana Shipping’s Panamax to Work at Higher Rate

Athens-based dry bulk owner Diana Shipping has entered into a time charter contract with Hudson Shipping Lines Incorporated for M/V Protefs, one of its Panamax dry bulk vessels.

As informed, the gross charter rate for the vessel is USD 7,900 per day for a period of minimum twelve months to about fifteen months. The charter is expected to commence on June 23, 2017.

From February 2016 to June 2017, the bulker worked for Transgrain Shipping at a lower charter rate which amounted to USD 4,500 per day, the company’s fleet employment data shows.

The 73,630 dwt Protefs was built by China’s Jiangnan Shanghai Changxing Heavy Ind. in 2004.

The new employment of the Panamax ship is anticipated to generate around USD 2.84 million of gross revenue for the minimum scheduled period of the time charter, according to the company.

Diana Shipping’s fleet currently comprises 51 dry bulk vessels with the combined carrying capacity of 5.9 million dwt and an average age of 7.89 years.

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