Diana containership wins timecharter extension and redelivery compensation

Diana containership wins timecharter extension and redelivery compensation

Athens: Hapag-Lloyd has extended its timecharter of a post-panamax owned by Diana Containerships by nine to 11 months, starting August 20, at a big discount.

Diana expects the extension to generate revenue of $4.42m for the minimum period, which is equivalent to a gross rate of around $16,370 per day – a 39% reduction on the original charter rate.

The Pucon (6,541 teu, built 2006) was originally fixed to Compania Sud Americana de Vapores (now merged with Hapag-Lloyd) for 18 to 30 months at a gross rate of $27,000 per day, starting September 20, 2013.

The contract included a clause whereby the charterer agreed to pay a lump sum equivalent to $6,000 per day for the outstanding period between the earliest redelivery date up to the maximum 30-month period of the charter if the vessel was returned early.

Because of this, the German carrier is also paying Diana $1.278m in early redelivery compensation for the outstanding period between August 20 this year and March 20, 2016.

The timecharter extension and compensation will together bring in $5.698m for NASDAQ-listed Diana Containerships.


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.

Related Posts