SwissMarine charters Diana panamax

SwissMarine charters Diana panamax

Geneva-based SwissMarine Services has booked Diana Shipping’s panamax Crystalia (77,525 dwt, built 2014) on an 11- to 14-month timecharter.

The gross daily rate was fixed at $6,250 per day, minus 5% commission, which will generate gross revenue of around $2.06m during the first 11 months, the NYSE-listed company said.

In comparison, the Baltic Panamax Index’s weighted timecharter average rate was today assessed at $4,811 daily, an increase of $130 from Friday’s level.

Nevertheless, Crystalias charter rate is a marked discount on what the vessel was earning during its previous employment with Glencore Grain.

In January 2014, the Rotterdam-based trader fixed the panamax on an 18-month timecharter for $15,800 daily, commencing in February that year.

Glencore Grain extended the contract in August 2015 for an extra 10 to 13 months at $9,000 daily, a rate 43% lower than the original fixture.The trader will redeliver the panamax to Diana on Tuesday, a day earlier than scheduled.

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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