Diana Shipping announces contract with Cargill

Diana Shipping Inc,has 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 Panamax dry bulk vessels, the m/v Leto. 

The gross charter rate is US$9,000 per day, minus a 4.75 percent commission paid to third parties, for a period until minimum July 15, 2021 up to maximum September 30, 2021. The charter is expected to commence on May 21, 2020. The “Leto” is a 81,297 dwt Panamax dry bulk vessel built in 2010.The contract is anticipated to generate approximately US$3.73 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.1 million dwt with a weighted average age of 9.67 years. 

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