Diana Shipping announces Time Charter Contract for m/v Leto

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(Image Courtesy: Diana Shipping)

Diana Shipping has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$9,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum July 15, 2021 up to maximum September 30, 2021.

The charter is expected to commence on May 21, 2020. The “Leto” is a 81,297 dwt Panamax dry bulk vessel built in 2010. This employment is anticipated to generate approximately US$3.73 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.1 million dwt with a weighted average age of 9.67 years.

Sea News, May 19

Baibhav Mishra
Author: Baibhav Mishra