Diana Shipping has signed a memorandum of agreement (MOA) to acquire the capesize bulk carrier Churchill Bulker (179,362 dwt, built 2011) from Denmark’s J Lauritzen for $28.5m.
The vessel will be renamed Seattle and is expected to be delivered to Diana by mid-November.
The price is something of a comedown compared to deals for 2011-built capesizes reported sold over the summer while freight rates were high.
In late July, J Lauritzen sold Corona Bulker (179,400 dwt) for $33.6m to Marmaras Navigation of Greece. Early August saw South Korea’s Blue Marine get $33.5m for its cape Blue Cho Oyu (180,100 dwt), which was bought by Israel-based Mano Maritime.
Today’s capesize timecharter average spot rate is $8,118 per day, down $618 on yesterday’s level and more than 50% below its 2015 peak of $19,499 per day, seen on August 4, according to Baltic Exchange data.
Diana’s capesize fleet currently stands 13 vessels, excluding this new acquisition. A capesize newbuilding, New Orleans, is due for delivery from China’s Shanghai Waigaoqiao Shipbuilding in November, plus two more from CSSC Jiangnan Changxing in 2016.