Geneva-based Quadra Commodities has fixed two bulk carriers on period charters during the past two days, including a kamsarmax owned by Diana Shipping.
The trader fixed the ultramax Young Harmony (63,600 dwt, built 2014), owned by South Korea’s Joong Ang Shipping, on a 10- to 15-month timecharter on Thursday. The firm period of the contract was fixed at $5,700 daily, plus an optional 10- to 15-month extension period at a rate of $6,100 daily, according to brokers’ reports.
Today, Quadra booked Diana Shipping’s kamsarmax Medusa (82,194 dwt, built 2010) on a period charter of over 11 months.
The gross rate was fixed at $6,300 per day (less 5% commission) for the duration of the contract, which is due to terminate between March 15, 2017 to and July 30, 2017.
Diana says it expects the deal to generate around $2.15m in gross revenue for the minimum scheduled period of the timecharter. The kamsarmax delivered to the charterer in Ho Chi Minh, Vietnam, on Thursday.
The gross rate is a slight reduction on what Medusa was earning during its previous contract with Clearlake Shipping.
The Gunvor subsidiary fixed the vessel on a 10- to 14-month timecharter in June last year at gross rate of $7,450 per day, less 4.75% commission for third parties. The ship was redelivered to Diana on Thursday.