Glencore Grain extends its Diana panamax timecharter at a discount

Glencore Grain extends its Diana panamax timecharter at a discount

Glencore Grain (Rotterdam) has extended its timecharter a Diana Shipping panamax bulk carrier for an extra 10 to 13 months, at a rate 43% lower than the original fixture.

The Crystalia (77,525 dwt, built 2014) was fixed at a gross rate of $9,000 daily, minus 5% commission, for the extension period, which is scheduled to commence on August 27.

“This employment extension is anticipated to generate approximately $2.7m of gross revenue for the minimum scheduled period of the timecharter,” Diana said today.

The vessel was originally fixed to the trader in January 2014 on an 18-month timecharter for $15,800 daily, commencing in February that year.

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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