Diana Shipping TC for m/v Salt Lake City with Cargill

Aiswarya Lakshmi April 30, 2018

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Salt Lake City.

The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$16,250 per day, minus a 4.75% commission paid to third parties, for a period of minimum eight months to maximum 10 months.

The charter is expected to commence on May 1, 2018. The m/v Salt Lake City is currently chartered, as previously announced, to Uniper Global Commodities SE, Düsseldorf, at a gross charter rate of US$9,000 per day, minus a 5% commission paid to third parties.

The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$3.9 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’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 8.69 years.