Greece’s Diana Shipping, listed on the American stock market, has revealed that through its subsidiary, has sealed a time charter contract with Louis Dreyfus Company Freight Asia Pte for one of its Ice-Class panamax dry bulk vessels, the Crystalia.

According to the company the gross charter rate is $13,900, minus a 5% commission paid to third parties, for a period of minimum twenty-one months to maximum twenty-five months.

The charter is expected to commence during the second quarter of 2024.

The “Crystalia” is a 77,525 dwt Ice Class panamax dry bulk vessel built in 2014.

The employment of “Crystalia” is anticipated to generate approximately $8.76m of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping’s fleet after completion of the sales of vessels “Houston” and “Artemis” will consist of 38 dry bulk vessels.

The vessels will consist of four newcastlemax, eight capesize, five post-panamax, six kamsarmax, 6 panamax and 9 ultramax.

The company also expects to take delivery of two methanol dual fuel new-building kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028.

The combined carrying capacity of the company’s fleet including the vessels Houston and Artemis and excluding the two vessels not yet delivered, is approximately 4.5m dwt with a weighted average age of 10.69 years.