Greek bulker owner OceanPal has entered into a time charter contract with Richland Bulk for one of its capesize dry bulk vessels and agreed to sell it upon the end of the charter.
Richland Bulk charted out the 2005-built, 177,243 dwt capesize bulker Baltimore. The gross charter rate is $22,000 per day minus a 5% commission paid to third parties, for a period until a minimum of September 15, 2024, up to a maximum of November 15, 2024.
The employment of the vessel is anticipated to generate approximately $2.64m of gross revenue for the scheduled period of the time charter. The charter is expected to begin in mid-May.
The Baltimore is currently chartered to Richland Bulk at a gross charter rate of $13,500 per day, minus a 5% commission paid to third parties.
The Nasdaq-listed spinoff of Diana Shipping also announced that it signed a memorandum of agreement to sell the vessel upon the end of the charter for $18.25m before commissions, with delivery to the undisclosed buyer by November 20, 2024, at the latest.
Upon completion of the aforementioned sale, OceanPal’s fleet will consist of four bulkers, one of which is a capesize and three are panamaxes.
