Cargill Extends Diana Shipping Charter

Maritime Activity Reports, Inc.

November 20, 2019

Polymnia. Pic: Diana Shipping

Polymnia. Pic: Diana Shipping

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia.

According to the global shipping company specializing in the ownership of dry bulk vessels,  the gross charter rate is US$11,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum eleven months to about thirteen months.

The new charter period commenced on November 15, 2019, it said.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$3.63 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Clio, Diana Shipping Inc.’s fleet will consist of 42 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax).

As of today, the combined carrying capacity of the Company’s fleet, including the m/v Clio, is approximately 5.3 million dwt with a weighted average age of 9.50 years.

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