Diana Shipping Extends Charter with Uniper at Lower Rate

Greek dry bulk vessel owner Diana Shipping has extended a time charter contract with Germany’s Uniper Global Commodities for one of its Post-Panamax dry bulk vessels, the M/V/ Phaidra.

As informed, the gross charter rate for the 87,146 dwt ship is USD 10,800 per day for a period of about fourteen to sixteen months.

The new charter period is expected to commence on April 11, 2019.

Diana Shipping said that the employment of the Post-Panamax is anticipated to generate approximately USD 4.37 million of gross revenue for the minimum scheduled period of the time charter.

Previously, Phaidra worked for Uniper at a higher charter rate of USD 12,700 per day.

Built at Hudong Zhonghua shipyard in 2013, Phaidra currently has a market value of USD 17.45 million, VesselsValue’s data shows.

Upon completion of the previously announced sale of Panamax dry bulk vessel Dione, Diana Shipping’s fleet will comprise 46 dry bulk vessels.

As of today, the combined carrying capacity of the company’s fleet, including Dione, is approximately 5.6 million dwt with a weighted average age of 9.19 years.