Diana Shipping seals new charters with Oldendorff and Phaethon

Diana Shipping seals new charters with Oldendorff and Phaethon

Greek dry bulk owner Diana Shipping has sealed new time charter contracts for two of its vessels.

2013-built post-panamax bulker Electra has gone on charter to German operator Oldendorff Carriers for a period of 11-13 months. The charter commenced last week and is at a rate of $10,250 per day, significantly lower than the $13,500 per day being paid on the previous charter to Uniper.

Separately, 2004-built panamax Protefs has been signed to a time charter contract with Phaethon International. The charter is schedule to commence this week at a rate of $9,900 per day, and runs through to minimum January 1, 2021 up to maximum March 31, 2021. The vessel is coming off charter to Hudson Shipping Lines at a rate of $11,000 per day,

Diana Shipping says the charter will generate around $7.29m based on the minimum time charter periods.

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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