Marine Link
Saturday, September 24, 2016

Diana, Cargill Enter Time Charter Agreement

June 28, 2013

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v Calipso. The gross charter rate is $8,100 per day, minus a 4.75% commission paid to third parties, for a period of minimum 21 months to maximum 25 months.

The charter is expected to commence by the end of July 2013, immediately after the redelivery of the vessel from the previous charterers to the owners. The previous charterers (Louis Dreyfus Commodities Suisse S.A., Geneva) have the option to redeliver the vessel at the earliest on August 11, 2013. However, they have agreed to compensate the owners for an earlier redelivery of the vessel by paying the difference between the new rate and the previous rate for the period from the earlier redelivery date to August 11, 2013.

The Calipso is a 73,691 dwt Panamax dry bulk vessel built in 2005.

This employment is anticipated to generate approximately $5.1 million of gross revenue for the minimum scheduled period of the charter.
 



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News