Diana Shipping's New Time Charter for Maia With Glencore

Aiswarya Lakshmi July 27, 2017

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Maia.

The gross charter rate is US$10,125 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fifteen (15) months. The charter is expected to commence immediately.

The m/v Maia is currently chartered, as previously announced, to RWE Supply & Trading GmbH, Essen, at a gross charter rate of US$7,500 per day, minus a 5% commission paid to third parties.

The “Maia” is a 82,193 dwt Kamsarmax dry bulk vessel built in 2009.

This employment is anticipated to generate approximately US$3.65 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.9 million dwt with a weighted average age of 7.99 years.