Diana Shipping Announces Time Charter Contract with Cargill

(Image Courtesy: VesselFinder)

Diana Shipping Inc, a global shipping company specializing in the ownership of dry bulk vessels, 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 Capesize dry bulk vessels, the m/v Salt Lake City.

The gross charter rate is USD 16,250 per day, minus a 4.75% commission paid to third parties, for a period of minimum eight (8) months to maximum ten (10) months. The charter is expected to commence on May 1, 2018.

The m/v Salt Lake City is currently chartered, as previously announced, to Uniper Global Commodities SE, Düsseldorf, at a gross charter rate of USD 9,000 per day, minus a 5% commission paid to third parties.

The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005. This employment is anticipated to generate approximately USD 3.9 million of gross revenue for the minimum scheduled period of the time charter.

Sea News, May 1