Diana, Cargill Enter Time Charter Agreement
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.
Star Bulk Two-Year Charter for Newbuild, Star Polaris
Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that it has entered into a time charter contract with Louis Dreyfus Commodities Suisse SA for its second capesize newbuilding, the Star Polaris, for two years, plus a charterer's option for one additional year, at a gross daily rate of $16,500 for the first two years and $19,000 for the optional year. The Star Polaris is a newbuilding Capesize vessel of approximately 179,600 dwt that is expected to be delivered to this new charterer in November 2011, immediately after its delivery from the shipyard. The new contract is expected to contribute a minimum of $11.5 million to a maximum of $20.1 million in gross revenue.
Diana Shipping Time Charter Contracts
Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the transportation of dry bulk cargoes, announced that it has entered into a time charter contract with Louis Dreyfus Commodities Suisse S.A., for one of its Panamax dry bulk carriers, the m/v Nirefs, at a gross charter rate of $21,000 per day for a period of about 23 to about 25 months. The charter is expected to commence in the middle of February 2010. The company also announced that it has entered into a time charter contract with C Transport Panamax Ltd., Isle of Man, for one of its Panamax dry bulk carriers, the m/v Erato, at a gross charter rate of US$20,500 per day for a period of minimum 21 to maximum 24 months. The charter is expected to commence in the middle of March 2010.
