Polymnia TC Cancelled: Diana Shipping

Maritime Activity Reports, Inc.

November 5, 2019

Pic: Diana Shipping Inc

Pic: Diana Shipping Inc

Diana Shipping announced the cancellation of the time charter contract with Al Ghurair Resources International, Dubai, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia, as announced on October 10, 2019.

According to the global shipping company specializing in the ownership of dry bulk vessels, charterers have exercised their right to cancel the time charter contract since the vessel was not delivered, due to unforeseen events, unrelated to the condition of the vessel, during the pre-agreed period.

The m/v Polymnia is currently chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$16,000 per day, minus a 4.75% commission paid to third parties. At the moment the Company is seeking a replacement charter for the m/v Polymnia.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 15 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.3 million dwt with a weighted average age of 9.46 years.

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