Diana Shipping announces direct continuation of time charter contract for m/v Medusa with Cargill
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, through a separate wholly-owned subsidiary, 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 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.
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.