Diana Fixes Bulker Duo with Glencore

Maritime Activity Reports, Inc.

March 29, 2016

Erato. Photo: Diana Shipping Inc

Erato. Photo: Diana Shipping Inc

 Diana Shipping Inc  has inked new time charters with Glencore Grain B.V., Rotterdam for two of its panamaxes at rates below the previous charters, with the contracts commencing on March 26.

Diana entered into a time charter contract with Glencore for 74,444 dwt panamax dry bulk vessel Erato for a period of 11-14 months at a gross charter rate of $4,650 per day minus a 5% commission payable to third parties. The charter for the 2004-built vessel commenced on March 26.
The company also entered into a time charter contract with Glencore for 2014-built 77,529 dwt panamax Atalandi for a period of 20-25 months at a gross charter rate of $5,300 per day, minus a 5% commission. The charter commenced on March 26, 2016.
The charter of “Erato” and “Atalandi” is expected to generate approximately USD 4.6 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc. provides shipping transportation services. The company transports dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. 
As of November 16, 2015, it operated a fleet of 43 dry bulk vessels, including 2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax, and 20 Panamax vessels.
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