Diana Shipping Extends Charter for Crystalia With Glencore

Maritime Activity Reports, Inc.

August 21, 2015

Crystalia. Photo by Diana Shipping Inc

Crystalia. Photo by Diana Shipping Inc

 Diana Shipping Inc., has, through a separate wholly-owned subsidiary, agreed to extend the present time charter contract with Glencore Grain B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the MV Crystalia.

 
The charter has been extended for a period of minimum ten months to maximum thirteen months at a rate 43% lower than the original fixture.
 
The Crystalia (77,525 dwt, built 2014) was fixed at a gross rate of $9,000 daily, minus 5% commission, for the extension period, which is scheduled to commence on August 27.
 
“This employment extension is anticipated to generate approximately $2.7m of gross revenue for the minimum scheduled period of the timecharter,” Owner and operator of dry bulk vessels  Diana said.
 
Diana Shipping Inc.'s fleet currently consists of 41 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax).
 
The Company also expects to take delivery of one new-building Capesize dry bulk vessel during October 2015, one new-building Newcastlemax dry bulk vessel during the second quarter of 2016, as well as one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel during the third quarter of 2016.
 
As of today, the combined carrying capacity of the Company's fleet, excluding the four vessels not yet delivered, is approximately 4.7 million dwt with a weighted average age of 7.37 years. 
 
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