Lower Charter Rate for Dianas Medusa

Diana Shipping Greek dry bulk owner and operator Diana Shipping has entered into a time charter contract with Switzerland-based firm Quadra Commodities S.A. for one of its Kamsarmax dry bulk vessels, the m/v Medusa, with much lower charter rate compared to the employment of the ship in 2015. The gross charter rate is USD 6,300 per day for a period of up to minimum March 15, 2017 to maximum July 30, 2017. Diana Shipping says the employment is to generate approx. USD 2.15 million of gross revenue for the minimum scheduled period. In comparison with 2015, when Medusas gross charter rate was USD 7,450 per day, the price has fallen due to turbulent times for the dry bulk market. Built in 2010, Medusa (formerly Torm Island) joined Dianas fleet in 2015 and was chartered out immediately to Clearlake Shipping Pte from Singapore. Diana Shippings fleet currently consists of 45 dry bulk vessels.