Diana Shipping signs Charter Contracts for m/v Erato and m/v Atalandi with Glencore

By Vessels

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 entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Erato. The gross charter rate is US$4,650 per day, minus a 5% commission paid to third parties, for a period of about eleven (11) months to maximum fourteen (14) months. The charter commenced on March 26, 2016.

The Erato is a 74,444 dwt Panamax dry bulk vessel built in 2004.

ERATO - IMO 9283631

Bulk Carrier Erato - Image: Krijn Hamelink

The Company also announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the m/v Atalandi.

Diana Shipping signs Charter Contracts for m/v Erato and m/v Atalandi with Glencore

Bulk Carrier Atalandi - Image: Arjan Elmendorp

The gross charter rate is US$5,300 per day, minus a 5% commission paid to third parties, for a period of minimum twenty (20) months to maximum twenty-five (25) months. The charter commenced on March 26, 2016. The Atalandi is a 77,529 dwt Ice Class Panamax dry bulk vessel built in 2014.

The employments of Erato and Atalandi are anticipated to generate approximately US$4.6 million of gross revenue for the minimum scheduled period of the time charters.

Source: Diana Shipping