Greek owner Diana Shipping starts a time charter contract with Cargill

Credit: Diana Shipping Inc.

The Greek dry bulk owner Diana Shipping has announced the delivery of an Ultramax dry bulk vessel and the time charter contract with Cargill Ocean Transportation.

The global shipping specialist, in the ownership and bareboat charter-in of dry bulk vessels has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the 2018 built Ultramax dry bulk vessel DSI Pyxis, formerly known as STH Montreal. Diana said the 60,362 dwt is one of nine modern Ultramax dry bulk vessels that the Company entered into an agreement to purchase in August 2022.

The company also has landed a time charter contract with Cargill Ocean Transportation Singapore Pte. Ltd, through the same wholly-owned subsidiary, at a gross charter rate of US$17,100 per day, minus a 4.75% commission paid to third parties, for a period of minimum ten months to maximum twelve months, commencing on October 15th this year.

The company said the employment of the vessel DSI Pyxis is anticipated to generate approximately US$5.13 million of gross revenue for the minimum scheduled period of the time charter.

Including the newly delivered ultramax, Diana´s Shipping fleet currently consists of 35 dry bulk vessels, including four Newcastlemax, 11 Capesize, five Post Panamax, six Kamsarmax, eight Panamax and one Ultramax, and currently expects to take delivery of eight more ultramax dry bulk vessels in the fourth quarter of 2022.

Source: Diana Shipping Inc.

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