Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with Cargill International SA, Geneva, for one of its kamsarmax dry bulk vessels.
Cargill International SA hired the 82,194 dwt kamsarmax dry bulk vessel Medusa, built in 2010.
Semiramis Paliou-led Diana fixed the vessel for a period until minimum May 15, 2026, up to maximum July 15, 2026.
The vessel is chartered to a gross charter rate of $13,000 per day, minus a 4.75% commission paid to third parties.
The charter is expected to begin on March 15, 2025.
The Greek shipowner said the employment of Medusa is anticipated to bring to the company around $5.46m of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the sale of the vessel Alcmene, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 newcastlemax, 8 capesize, 4 post-panamax, 6 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, respectively.
Currently, the combined carrying capacity of the company’s fleet, including the Alcmene and excluding the two vessels not yet delivered, is approximately 4.2 million-dwt with a weighted average age of 11.45 years.
