Lloyd's Register
The American Club
Panama Consulate
London Shipping Law Center
Home MarketsChartering Diana announces direct continuation of t/c contract for m/v Medusa with Cargill

Diana announces direct continuation of t/c contract for m/v Medusa with Cargill

by admin

Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Medusa with Cargill

ATHENS, GREECE, September 4, 2018 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today 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 Kamsarmax dry bulk vessels, the m/v Medusa. The gross charter rate is US$14,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum thirteen (13) months to maximum fifteen (15) months. The new charter period commenced yesterday. The m/v Medusa was chartered, as previously announced, at a gross charter rate of US$10,000 per day, minus a 4.75% commission paid to third parties.

The “Medusa” is a 82,194 dwt Kamsarmax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$5.46 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 9.03 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

You may also like

Leave a Comment