Greek owner of dry bulk vessels Diana Shipping has agreed to extend the present time charter contract for its Panamax dry bulk vessel MV Leto.
Under the deal, the ship will continue to work for Rotterdam-based Glencore Agriculture at a gross charter rate of USD 12,500 per day.
The 81,297 dwt ship will be hired for a period of sixteen to about nineteen months, starting on January 3, 2018.
MV Leto, built in 2010, is currently chartered at a gross charter rate of USD 7,750 per day, minus a 5% commission paid to third parties.
Diana Shipping informed that the employment extension is expected to generate some USD 6 million of gross revenue for the minimum scheduled period of the time charter.