Diana Shipping to Continue TC with Glencore
By Aiswarya Lakshmi
Wednesday, December 27, 2017
Diana Shipping announced that through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Leto.
The gross charter rate is US$12,500 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to about 19 months.
The new charter period is expected to commence on January 3, 2018. The m/v Leto is currently chartered, as previously announced, at a gross charter rate of US$7,750 per day, minus a 5% commission paid to third parties.
The “Leto” is a 81,297 dwt Panamax dry bulk vessel built in 2010.
The employment extension of “Leto” is anticipated to generate approximately US$6.0 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc. is a global shipping company specializing in the ownership of dry bulk vessels. It’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax).
As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.35 years.