Athens-based Diana Shipping has entered into a time charter contract with Geneva’s Cargill International for one of its Capesize dry bulk vessels.

Under the deal, the company’s 171,810 dwt bulker Salt Lake City would be hired at a gross charter rate of USD 9,750 per day for a period of twenty to twenty-three months.

The 2005-built unit is scheduled to commence its charter on March 14, 2019.

Diana Shipping expects that the employment would generate around USD 5.85 million of gross revenue for the minimum scheduled period of the time charter.

Salt Lake City is currently working for Cargill International at a rate of USD 16,250 per day. The current deal was signed for a period of over 10 months, from May 2018 to mid-March 2019.