Greek Ship Chartered Way Below Previous Rate

Diana Shipping Inc has signed a contract for one of its dry bulk vessels at $13,000 per day, 76 percent below the ship's previous charter rate

Diana chartered its dry bulk carrier the Salt Lake City to Morgan Stanley Capital Group Inc with effect from August this year, reports Reuters.

Rates for dry bulk vessels, which transport commodities such as coal, iron ore and grain, crashed in the last four years as the delivery of a large number of new ships coincided with a global economic downturn.