Diana Shipping Announces Time Charter Contract for m/v Astarte with Glencore

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(Image Courtesy: Marine Traffic)

Diana Shipping Inc. on Wednesday (October 17) announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Astarte.

The gross charter rate is USD 14,250 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The new charter period commenced yesterday.

The m/v Astarte was chartered, as previously announced, at a gross charter rate of USD 9,000 per day, minus a 5% commission paid to third parties.

The “Astarte” is a 81,513 dwt Kamsarmax dry bulk vessel built in 2013. The employment extension of “Astarte” is anticipated to generate approximately USD 5.99 million of gross revenue for the minimum scheduled period of the time charter extension.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 9.15 years.

Sea News, October 18

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