Diana Shippings Capesize to Work at Higher Rate

Diana Shipping Greek dry bulk vessel owner Diana Shipping has secured an extension of the present time charter contract for one of its Capesize bulkers at a higher rate. The companys 174,186 dwt dry bulk vessel Sideris GS would continue working for Singapore-based Rio Tinto Shipping (Asia) for a period of thirteen to seventeen months. Under the new agreement, the 2006-built ship would be deployed at a new gross charter rate of USD 13,000 per day, significantly more than the current rate of USD 6,500 per day. Diana Shipping informed that the new charter period is expected to commence on June 20, 2017. The employment extension is expected to generate some USD 5.07 million of gross revenue for the minimum scheduled period of the time charter.