Bunge Sa News

Diana Shipping  has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite. The gross charter rate is US$11,150 per day, minus a 4.75% commission paid to third parties, for a period of minimum 13 months to maximum 16 months. The charter is expected to commence in late September 2017. The m/v Amphitrite is currently chartered, as previously announced, to Bunge S.A., Geneva, at a gross charter rate of US$7,700 per day, minus a 5% commission paid to third parties. The “Amphitrite” is a 98,697 dwt Post-Panamax dry bulk vessel built in 2012.

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$5,000 per day, minus a 5% commission paid to third parties, for a period of about five (5) months to about seven (7) months. The charter commenced yesterday. The “Naias” is a 73,546 dwt Panamax dry bulk vessel built in 2006. The Company also announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Artemis.

Diana Shipping Inc. announced today that through a separate wholly-owned subsidiary, it entered into a time charter contract with Sandgate Maritime Ltd for one of its Panamax dry bulk vessels, the m/v Coronis. The gross charter rate is US$6,500 per day, minus a 5% commission paid to third parties, for a period of minimum nine (9) months to maximum twelve (12) months. The charter commenced on July 3, 2015. The “Coronis” is a 74,381 dwt Panamax dry bulk vessel built in 2006. Additionally, the Company announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v P.

Diana Shipping Inc. has time- chartered out the 75,336 dwt MV Triton to Bunge S.A., Geneva, at a gross charter rate of US$11,000 per day, minus a 5% commission paid to third parties, for a period of up to minimum September 1, 2014 to maximum October 31, 2014. The charter is expected to commence on December 8, 2013. The owners add that this employment is anticipated to generate approximately US$2.86 million of gross revenue for the minimum scheduled period of the charter. Diana Shipping Inc.'s fleet currently consists of 35 dry bulk vessels (2 Newcastlemax…

General Increases of 10% and 5% are Maintained for 2013/14 Mutual Entries. The Strike Club, the market leader in the niche area of delay insurance for the marine trades, reports continuing strong demand for its mutual and fixed-premium covers. Shipowners and charterers are boosting the club’s mutual entries as shipping operations are stamped by uncertainty resulting from the widening economic crisis and growing civil unrest, such as the protests by millions against government austerity measures seen in some of Europe’s largest countries last week. All this is fomenting industrial action which can and often does disrupt the maritime supply chain. Bill Milligan, chairman and chief executive of S.C.

On August 14, 2012, Diana Shipping Inc. (NYSE:DSX), through a separate wholly-owned subsidiary, took delivery of the m/v "Amphitrite", a 98,697 dwt newly built Post-Panamax dry bulk carrier. The company also announced that, through the same wholly-owned subsidiary, it has entered into a time charter contract with Bunge S.A., Geneva, for the Amphitrite. The gross charter rate is $10,000 per day, minus a 5% commission paid to third parties, for a period of about twenty-two (22) months to about twenty-six (26) months. The charterer has the option to employ the vessel for a further eleven (11) to fourteen (14) month period at a gross charter rate of $11,300 per day, less a 5% commission paid to third parties.

Quintana Maritime Limited has secured the final nine Kamsarmaxes under its master time charter with Bunge S.A. for 2010 at an average daily rate of approximately $22,000 per day, which is at the ceiling rate of the band for that period. With these fixtures, Quintana has completed its negotiations with Bunge for the entire term of the master time charter, ends December 31, 2010. Quintana expects to generate approximately $68 million of net revenues in 2010 from these nine vessels. Consequently, almost 68% of Quintana’s expected net operating days of the entire fleet are secured at fixed rates in 2010, corresponding to approximately $187 million in expected revenues for the fleet.

Quintana Maritime Ltd., a Greek shipping company specializing in dry bulk cargo, said Tuesday it secured eight vessels under a master time charter with Bunge SA at an average daily rate of $21,800. Quintana Maritime expects to earn about $59.2 million in net revenue in 2010 as a result of the fixtures. The company said almost 40 percent of its fleet's expected net operating days are secured at fixed rates in 2010, worth about $119 million. Source: AP

Quintana Maritime Limited has secured fourteen Kamsarmaxes and three Panamaxes, which were acquired from Metrobulk, under its master time charter with Bunge S.A. for 2009 at an average daily rate of approximately $21,800 per day, which is the ceiling of the rate band for that period. The newly fixed vessels were delivered to Quintana from August 2006 to April 2007. Sixteen of the seventeen vessels are already on long-term charter under a master time charter to Bunge S.A., a wholly owned subsidiary of Bunge Limited (NYSE:BG), an integrated global agribusiness. An additional Panamax, Grain Harvester, is fixed on a separate time charter with Bunge through September 2009 at $20,000 per day and was delivered to Quintana in September 2006.

Quintana Maritime Limited took delivery of Iron Knight, the last Panamax bulk carrier that the company agreed to acquire from Metrobulk. Iron Knight was built in June 2004 at Tsuneishi, a Japanese shipyard and has a carrying capacity of 76,429 deadweight tons (dwt). Because Iron Knight was delivered later than the contracted delivery date, an affiliate of Metrobulk paid approximately $1.7 million to Quintana under the terms of the memorandum of agreement. This payment effectively reduces the purchase price of the vessel. To date, Quintana has received approximately $3.1 million in late delivery payments from Metrobulk, reducing the aggregate purchase price of the fleet to approximately $731.9 million.

Quintana Maritime Limited took delivery of a Kamsarmax bulk carrier, Pascha, from Tsuneishi, a Japanese shipyard. Pascha has a carrying capacity of 82,300 deadweight tons (dwt) and is the tenth of the fourteen Kamsarmax vessels the company has agreed to acquire from Metrobulk. As previously announced, Pascha, together with four other vessels, is employed at an average daily rate of approximately $20,000 per day for 2007 under a master time charter with Bunge S.A.. Quintana Maritime has fixed the rates for all seventeen vessels it has acquired or has agreed to acquire from Metrobulk. The master charter agreement with Bunge S.A. calls for annual renewals in early November every year between floor and ceiling rates, and lasts through the end of 2010.

Quintana Maritime Limited priced its two remaining Kamsarmaxes, Iron Brooke (ex Bulk 16) and Iron Manolis (ex Bulk 17), under its master time charter with Bunge S.A. at an average daily rate of $25,000 per day for 2007. These vessels, which Quintana has agreed to acquire from Metrobulk, are expected to be delivered to Quintana ex yard between March and May 2007. Having priced these two Kamsarmaxes, Quintana Maritime has fixed the rates for all seventeen vessels it has acquired or has agreed to acquire from Metrobulk. For 2007, seven Kamsarmaxes and two Panamaxes have been fixed at an average daily rate of $23,000, five Kamsarmaxes have been fixed at an average daily rate of $20,000 and two Kamsarmaxes have been fixed at an average daily rate of $25,000.

AQuintana Maritime Limited has taken delivery of three additional vessels -- Santa Barbara, Grain Harvester, and Iron Elisabeth -- from Metrobulk. Santa Barbara and Iron Elisabeth are Kamsarmax bulk carriers, each with a carrying capacity of 82,224 deadweight tons (dwt) and built in 2006. Grain Harvester is a Panamax bulk carrier with a carrying capacity of 76,417 dwt and was built in 2004. All three vessels are sister ships built at Tsuneishi, a Japanese shipyard. As previously announced, Santa Barbara and Iron Elisabeth are employed under a master time charter with Bunge S.A. at an average daily rate, together with six other vessels, of approximately $23,000 per day for 2007.

Quintana Maritime Limited announced that it secured seven Kamsarmaxes and two Panamaxes, which were recently acquired or are set to be acquired from Metrobulk, under its master time charter with Bunge S.A. for 2007 at an average daily rate of approximately $23,000 per day. The newly fixed Kamsarmaxes are Iron Bradyn (ex Bulk 4), Iron Kalypso (ex Bulk 6), Ore Hansa (ex Bulk 7), Santa Barbara (ex Bulk 8), Iron Elisabeth (ex Bulk 9), Coal Hunter (ex Bulk 14), and Coal Gypsy (ex Bulk 12), and the newly fixed Panamaxes are Grain Express (ex Bulk 1) and Iron Knight (ex Bulk 2). All nine of these vessels, as well as the five vessels previously fixed, are expected to be delivered by year-end 2006, other than Iron Lindrew (ex Bulk 15), which is expected to be delivered in January 2007.

Quintana Maritime Limited announced that it had taken delivery of a Kamsarmax bulk carrier, Coal Gypsy, on November 24, 2006 from Tsuneishi, a Japanese shipyard. Coal Gypsy has a carrying capacity of 82,300 deadweight tons (dwt). Quintana Maritime has to date taken delivery of eleven vessels out of the total of seventeen vessels from Metrobulk. As previously announced, Coal Gypsy is employed under a master time charter with Bunge S.A. for 2007 and is employed, together with eight other vessels, at an average daily rate of approximately $23,000 per day. Quintana Maritime has fixed the rates for all seventeen vessels it has acquired or has agreed to acquire from Metrobulk.

Cargo shipping company Quintana Maritime Ltd. said it is buying 17 ships from a private Greek shipowner for about $735 million, according to a report in the Houston Chronicle. The fleet, purchased from Metrobulk, includes three Panamaxes and 14 Kamsarmax bulkers. The ships are on a long-term charter with Bunge SA, a unit of Bunge Ltd., the company said.

Quintana Maritime Ltd. said Friday it is buying 17 ships from a private Greek ship owner for about $735 million. Quintana is financing the purchase with loans and $191 million in cash proceeds from a private placement of roughly 2 million shares that closed Thursday. The fleet, purchased from Metrobulk, includes three Panamaxes and 14 Kamsarmax bulkers. The company said the purchase will boost cash flow per share in 2007 when all the ships have been delivered. The ships are on a long-term charter with Bunge SA, a unit of Bunge Ltd., the company said. Shares of Greece-based Quintana rose 10 cents to $8.15 in morning trading on the Nasdaq. Source: AP

Diana Shipping Inc. a global shipping transportation company specializing in dry bulk cargoes, today announced that it has taken delivery of the Bolina, a 73,583 dwt Panamax dry bulk carrier built in 2004, to be renamed Thetis. The vessel is chartered to Bunge S.A., Geneva, Switzerland for a period of about 36-38 months, at the charterer's option, at a rate of $25,000 per day, gross of commissions, that commenced on August 4, 2004. Diana Shipping Inc. has assumed the vessel's current charter from the seller. With the delivery of this vessel, Diana Shipping Inc. has increased its fleet to twelve vessels (eleven Panamax dry bulk carriers and one Capesize dry bulk carrier).