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.