Diana Shipping Secures New Charter Deals with Cargill

Greek dry bulk owner Diana Shipping has secured a charter extension and a new charter agreement with Geneva-based Cargill International.

Cargill extended the the present time charter contract for Diana Shipping’s Capesize dry bulk vessel, the m/v Santa Barbara.

The 179,426 dwt unit will continue working for Cargill at a higher gross charter rate, namely USD 20,250 per day, for a period of about eighteen to nineteen months. The new charter period is expected to commence on April 24, 2018.

Santa Barbara, built in 2015, is currently chartered at a gross charter rate of USD 12,000 per day.

Under the second contract with Cargill, Diana Shipping will see its Kamsarmax dry bulk vessel, the m/v Myrto, employed for a period of thirteen to fifteen months, starting from April 24.

The gross charter rate for the 2013-built unit is USD 14,000 per day. The 82,131 dwt Myrto is currently chartered at a rate of USD 8,000 per day.

Diana Shipping informed that the employment extension and the new charter contract are expected to generate USD 16.09 million of gross revenue for the minimum scheduled period of the time charters.