Diana Shipping signs time charter contract for mv Crystalia with Glencore

By Fartøjer

Diana Shipping Inc. (NYSE: DSX), 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.

Diana Shipping signs time charter contract for mv Crystalia with Glencore
Caption: Bulk carrier Crystalia - Image courtesy of Arjan Elmendorp

The gross charter rate is US$11,100 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to about fifteen (15) 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.

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 8.18 years.

Source: Diana Shipping