Dry CargoEurope

Diana Shipping finds new charter for panamax bulker at reduced rate

Greek dry bulk owner Diana Shipping has sealed a time charter contract for 2007-built panamax vessel Arethusa with Ausca Shipping in Hong Kong.

Commencing immediately, the contract is for a period of 12-15 months at a rate of $9,150 per day. The vessel has just come off a one-year contract with Glencore, where it was earning $12,600 per day.

Diana says the charter will generate around $3.29m based on the minimum charter period.

The company has been selling off many of its older panamaxes, selling the 2001-built Danae and Dione in February, 2004-built Erator in April, and has been circulating 2001-built pair Nirefs and Oceanis for sale also.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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