Glencore Hires Diana Shipping’s Panamax

Greek dry bulk owner Diana Shipping has entered into a time charter contract with Rotterdam-based Glencore Agriculture for one of its Panamax dry bulk vessels.

Under the deal, the company’s 73,593 dwt Arethusa was hired at a gross charter rate of USD 12,600 per day for a period of twelve to fifteen months.

The 2007-built ship, which is expected to commence the charter on April 25, is currently working for Singapore’s Noble Resources International at a daily rate of USD 7,200.

Diana Shipping said that the employment is anticipated to generate USD 4.54 million of gross revenue for the minimum scheduled period of the time charter.

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