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, Crystalia‘s 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.