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Diana and Safe Bulkers kamsarmaxes get period fixtures, rates stay flat

Four kamsarmax bulk carriers were reported fixed on period charters today. But while chartering activity has been steady, rates for six-month contracts have stayed static and are much the same as they were at the start of the year, brokers’ data shows.

Diana Shipping’s Myrsini (82,193 dwt, built 2010) has been fixed to Germany’s RWE Supply & Trading for 12 to 15 months at a gross daily rate of $5,550, minus 5% commission. The NYSE-listed company said it expects the contract to generate gross revenue of $2m during the first 12 months.

Nevertheless, the daily rate is a 33% reduction on what the vessel was earning on its previous charter to Clearlake Shipping. The Gunvor subsidiary fixed the bulker at $8,250 per day on February 15, 2015, for 10 to 14 months. The contract is due to terminate on Tuesday.

Safe Bulkers’ Kypros Land (77,060 dwt, built 2014) was fixed for $5,750 daily on a five- to eight-month contract to an unnamed charterer, who will take delivery of the ship from March 9 to 13 in Rizhao, China.

Nord Hydra (77,134 dwt, built 2014), owned by Hong Kong-based Grace Ocean Investment, was fixed to Hudson on a four- to seven-month period charter at a rate of $5,000 daily. The ship is due to deliver in Xinsha, China today.

Mitsui & Co’s Bulk Finland (77,126 dwt, built 2014) was fixed to Oldendorff for four to seven months at $5,350 daily, delivering in Hong Kong between March 12 and 15.

London-based shipbroker Alibra Shipping today gives rate estimates of $4,600 per day for panamaxes and kamsarmaxes commencing six-month timecharters in the Pacific basin, and $5,200 per day for those in the Atlantic.

Fixtures made in the spot market have been strong enough to help the Baltic Panamax Index advance 11 points on Friday’s level to reach 397 points today.


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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