Dry CargoEurope

Diana capesize gets new timecharter to SwissMarine

Diana Shipping’s capesize bulk carrier Norfolk (164,218 dwt, built 2002) has been fixed on a new nine- to twelve-month timecharter to SwissMarine Services at a gross rate of $4,350 per day, minus 5% commission.

The daily rate is over 50% less than the vessel was earning during its previous contract with Clearlake Shipping.

Norfolk (pictured) was last year fixed to the Gunvor subsidiary for 13 to 17 months for a gross rate of $10,250 daily (minus 4.75% commission), commencing February 26, 2015.

The vessel is to be redelivered to Diana seven days earlier than the minimum charter period, for which Clearlake will compensate the shipowner.

In the spot market, a flurry of capesizes fixed at firmer rates enabled the Baltic Capesize Index (BCI) to advance by seven points today to reach 203. The index’s weighted timecharter average rate for five major capesize routes likewise grew by $77 to $2,082 per day, still way below daily breakeven rates.

The Baltic indices for all bulker segments posted increases today, helping the Baltic Dry Index (BDI) climb five points to 406.

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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