Oldendorff, Phaethon Hire Diana’s Bulkers

BulkerIllustration; Image Courtesy: Pxhere under CC 2.0 license

Athens-based dry bulk vessel owner Diana Shipping has entered into new time charter contracts for two of its ships.

The first charter was agreed with Germany’s Oldendorff Carriers for the m/v Electra, a Post-Panamax dry bulk vessel built in 2013.

The gross charter rate for the 87,150 dwt Electra is USD 10,250 per day for a period of minimum eleven to maximum thirteen months. The charter commenced on November 22.

Diana also inked a time charter deal with Phaethon International Company for Protefs, a Panamax bulker constructed in 2004.

The gross charter rate for the 73,630 dwt ship is USD 9,900 per day for a period until minimum January 1, 2021, up to maximum March 31, 2021.

The charter is expected to commence on November 27, 2019.

“The employments of Electra and Protefs are anticipated to generate approximately USD 7.29 million of gross revenue for the minimum scheduled period of the time charters,” Diana Shipping said.

Diana’s fleet currently consists of 42 dry bulk vessels with a combined carrying capacity of 5.2 million dwt and a weighted average age of 9.41 years.

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