Diana Shipping Secures Work for Panamax Bulker

Diana Shipping Greek shipping company Diana Shipping has entered into a time charter contract with Hong Kongs Caravel Shipping for one of its Panamax dry bulk vessels, the M/V Dione. The duo inked the charter for a period of minimum nine to about twelve months. The gross charter rate is USD 7,200 per day for the first 90 days and USD 7,050 per day for the balance period of the charter. The charter is expected to commence on February 4, 2017. According to Diana, the employment of the Panamax bulker is expected to generate some USD 1.92 million of gross revenue for the minimum scheduled period of the time charter. Built by South Koreas Hyundai Samho Heavy Industries in 2001, the 75,172 dwt vessel has a market value of USD 4.78 million, according to data provided by VesselsValue. Dione previously worked for Nidera S.P.A, Roma until January 28, 2017. Diana’s fleet is currently comprised of 48 dry bulk vessels, which have a combined carrying capacity of 5.7 million dwt and a weighted average age of 7.68 years.