Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ST Shipping and Transport, Singapore, for one of its Panamax dry bulk vessels, the m/v Maera.
The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$11,750 per day, minus a 5% commission paid to third parties, for a period of about seven months to maximum nine months.
The charter commenced on July 4, 2018. The “Maera” is a 75,403 dwt Panamax dry bulk vessel built in 2013.
This employment is anticipated to generate approximately US$2.29 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.88 years
The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.