Dry CargoEurope

Transgrain extends timecharter of Diana panamax

Rotterdam-based Transgrain has extended its timecharter of one of Diana Shipping’s panamax bulk carriers by a further 11 to 14 months.

The extension period for Clio (73,691 dwt, built 2005) was fixed at a gross daily rate of $5,350 per day, minus 5% commission for third parties, commencing on May 5.

Diana expects the extension to generate around $1.77m in gross revenue during the first 11 months.

Transgrain originally booked the vessel in July 2015 for nine to 12 months at a gross rate of $6,500.

Rates in the spot market are currently faring a little better. Today, the Baltic Panamax Index’s weighted timecharter average (TCA) rate was assessed at $5,795 per day, down $73 on Friday’s level.

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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