Diana Shipping has chartered out a pair of panamax vessels to Glencore Grain, with the contracts commencing on March 26 and expected to generate around $4.6m.
Diana entered into a time charter contract with Glencore for 74,444 dwt panamax dry bulk vessel Erato for a period of 11-14 months at a gross charter rate of $4,650 per day minus a 5% commission payable to third parties. The charter for the 2004-built vessel commenced on March 26.
The company also entered into a time charter contract with Glencore for 2014-built 77,529 dwt panamax Atalandi for a period of 20-25 months at a gross charter rate of $5,300 per day, minus a 5% commission. The charter commenced on March 26, 2016.
Diana Shipping said the contracts will generate around $4.6m of gross revenue for the company based on the minimum scheduled time charters periods.