Dry CargoEurope

Diana capesize and post-panamax get timecharters

Commodity traders Cargill and RWE Supply & Trading have respectively fixed post-panamax and capesize bulk carriers owned by Diana Shipping, which expects the deals to generate at least $4.65m for the minimum scheduled period of the two contracts.

Cargill International has booked the post-panamax Polymnia (98,704 dwt, built 2012) on a 12- to 15-month timecharter at a gross rate of $5,650 per day, minus 4.75% commission. The extension period commences today.

The bulker was previously employed by Vroon Dry Cargo Chartering, which fixed the vessel in January for 11 months at $7,500, minus 5% commission. The charter included a one-time ballast bonus payment of $237,500.

RWE has extended its contract on the capesize Santa Barbara (179,426 dwt, built 2015) by a further 12 to 15 months at a gross daily rate of $7,500, minus 5% commission for third parties, from December 18.

The trader fixed the cape on a one-year charter in January this year for $12,000 per day (gross).

Weak capesize rates today helped the Baltic Dry Index to fall to 484 points, dipping below 500 points for the second time ever to reach the lowest level in its history.

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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