Diana Finds Work for Two Panamaxes

  • Business & Finance

Greek dry bulk owner and operator Diana Shipping has entered into time charter contracts for two of its Panamax dry bulkers, M/V Naias and M/V Artemis.

The contracts, signed with Geneva-based Bunge S.A., include a gross charter rate of USD 5,000 per day for M/V Naias and USD 5,350 per day for M/V Artemis.

The 73,546 dwt Panamax Naias was chartered out for a period of about five to seven months, and commenced its charter yesterday.

Diana’s 76,942 dwt Artemis was hired for a period of minimum ten to thirteen months.

The 2006-built vessel is expected to start work on its charter on June 6, 2016.

Diana Shipping said that the employments of Naias and Artemis should generate USD 2.3 million of gross revenue for the minimum scheduled period of the time charters.

After it took delivery of the 75,403 dwt M/V Maera (formerly Manzoni), a Panamax dry bulker bought in February 2016, the company’s fleet consists of 46 dry bulk vessels.

Diana expects to take delivery of three newbuildings by the end of 2016, namely two Newcastlemax dry bulkers and one Kamsarmax.

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