Lower Charter Rate for Dianas Protefs

Diana Shipping Greek dry bulk owner Diana Shipping has signed a time charter contract for its Panamax dry bulk vessel MV Protefs with the Netherlands-based Transgrain Shipping B.V. Diana said that the gross charter rate was set at USD 4,500 per day, minus a 5% commission paid to third parties. Under the deal, the 73,630 dwt vessel will be employed for a period of about twelve to sixteen months. The 2004-built Panamax bulker is expected to commence its charter on February 22, 2016. According to Diana, this deal should generate some USD 1.55 million of gross revenue for the minimum scheduled period of the time charter. The company previously chartered out MV Protefs to Rotterdam-based Glencore Grain B.V. in April 2015 for a period of eleven to maximum fourteen months. The vessel was hired at a gross charter rate of USD 6,250 per day minus a 5% commission paid to third parties.