Dry CargoEurope

Diana Shipping seals cape charter with Solebay at bumper rate

New York-listed bulker owner Diana Shipping has entered into a time charter contract with Solebay Shipping for the 2011-built capesize Seattle.

The charter is expected to commence on February 23, 2022, fixing the 179,362 dwt vessel through to between October 1, 2023, and December 15, 2023, at a daily rate of $26,500. The Seattle is currently chartered to Pacbulk Shipping in Singapore at a significantly lower rate of $12,300 per day.

In addition, the Greek owner has taken delivery of the 2011-built kamsarmax Leonidas P. C., formerly Magnolia. The vessel has been chartered out to Cargill at $24,500 per day from February 18 through to between March 1, 2023 and April 30, 2023.

The employment of both vessels should generate approximately $24.41m of gross revenue for the minimum scheduled period of the time charters.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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