Clearlake extends timecharter of Diana capesize at a discount

Clearlake extends timecharter of Diana capesize at a discount

Athens: Clearlake Shipping (Singapore), part of Gunvor, has extended its existing timecharter of a capesize bulk carrier operated by NYSE-listed Diana Shipping by a further 22 to 26 months.

The Boston (177,828 dwt, built 2007) has been fixed at a gross rate of $13,000 per day, minus a 4.75% commission paid to third parties.

The extended charter period is expected to commence on August 9, and should generate around $8.4m in gross revenue during the initial 22-month period of the charter.

The rate is a reduction on the gross daily rate of $14,000 locked in when the Boston was originally fixed in July 2013 for a minimum of 24 months.

Clearlake currently has one other capesize, Norfolk (164,218 dwt, built 2002), on timecharter from Diana. The trader extended the vessel’s contract in February for a gross rate of just $10,250 per day.

The Singapore-based Gunvor subsidiary also has two kamsarmaxes on timecharter from Diana, being the new Medusa (82,194 dwt, built 2010) and Myrsini (82,117 dwt, built 2010).

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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