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.
