Higher Charter Rate for Diana’s Panamax Bulker

  • Business & Finance

Greek owner of dry bulk vessels Diana Shipping has entered into a time charter contract with Phaethon International Company for one of its Panamax dry bulk vessels, the M/V Naias.

The gross charter rate is USD 10,000 per day for a period of about fifteen to maximum eighteen months. The charter is expected to commence on November 24, 2017, according to the company.

The 73,546 dwt Naias was previously chartered to Glencore Agriculture at a gross charter rate of USD 7,500 per day.

“This employment is anticipated to generate approximately USD 4.35 million of gross revenue for the minimum scheduled period of the time charter,” the company said.

Built at Jiangnan Shanghai Changxing Heavy Industry in China in 2006, the bulker has a market value of USD 10.76 million, VesselsValue’s data shows.

Diana Shipping’s fleet currently comprises 50 dry bulk vessels. As of today, the combined carrying capacity of the company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.23 years.

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