Diana Shipping Announces Time Charter Contract with Cargill

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(Image Courtesy: Tor Gravnas / MarineTraffic)

Diana Shipping Inc. (NYSE: DSX) on Monday 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 Kamsarmax dry bulk vessels, the m/v Myrto.

The gross charter rate is US$14,000 per day, minus a 4.75% commission paid to third parties, for a period of about nine (9) months to maximum eleven (11) months. The new charter period commenced on July 18, 2019.

The “Myrto” is a 82,131 dwt Kamsarmax dry bulk vessel built in 2013. This employment is anticipated to generate approximately US$3.57 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 44 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 16 Panamax).

As of today, the combined carrying capacity of the Company’s fleet is approximately 5.4 million dwt with a weighted average age of 9.30 years.

Sea News, July 23