Dry CargoEuropeFinance and Insurance

Phaethon takes Diana panamax on timecharter

Phaethon International has fixed a panamax bulk carrier owned by Diana Shipping on timecharter for up to eight months at a daily rate of $5,250, according to Baltic Exchange data.

Coronis (74,381 dwt, built 2006) will deliver to the charterer in Donguan in southern China between May 25-30 and may be redelivered up to a maximum of February 18, 2017.

The daily rate is a 24% discount on what Coronis was earning during its previous employment with Sandgate Maritime.

The charterer booked the vessel in July 2015 at a gross rate of $6,500 per day, which terminated when Sandgate redelivered the vessel slightly earlier than scheduled on March 19 this year, rather than April 3.

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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