Glencore extends another timecharter of Diana Shipping panamax

Glencore extends another timecharter of Diana Shipping panamax

London: Glencore Grain (Rotterdam) has extended its timecharter of a Diana Shipping-owned panamax for a further 11 to 14 months.

The trader has chartered the Oceanis (75,211 dwt, built 2001) at a gross rate of $4,500 per day for the first 50 days of the charter period, which commenced on March 22.

The gross rate will be $7,200 per day for the remaining period of the timecharter.

Diana expects the deal to generate around $2.24m of gross revenue for the minimum scheduled period of the timecharter, or $2.13m net after the deduction of 5% commission for third parties.

This is the third time the Rotterdam-based trader has extended timecharters with Diana since the year began. The company extended its contracts on the vessels Arethusa (73,593 dwt, built 2007) in February and the Erato (74,444 dwt, built 2004) in March.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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