Diana Shipping enters time charter contract with Glencore
Diana Shipping Inc., 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 Glencore Agriculture B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia. The gross charter rate is US$11,100 per day, minus a 5% commission paid to third parties, for a period of minimum twelve months to about fifteen months. The charter is expected to commence later today. The m/v Crystalia is currently chartered, as previously announced, to SwissMarine Services S.A., Geneva, at a gross charter rate of US$6,250 per day, minus a 5% commission paid to third parties.
The “Crystalia” is a 77,525 dwt Ice Class Panamax dry bulk vessel built in 2014.
This employment is anticipated to generate approximately US$4.0 million of gross revenue for the minimum scheduled period of the time charter.