Friday, January 8, 2010

Diana Shipping Awarded Two New Time Charter Contracts

Two Panamax Dry Bulkers on Separate Two Year Charters
Shipping News Feature

GREECE – Dry Bulk Specialist Diana Shipping has announced that it has been awarded two new time charter contracts for its Panamax bulk carriers the, m/v Nirefs and m/v Erato. The new contracts, both for a period of around two years, are expected to generate Diana some $27.5 million in gross revenue.

The Nirefs, a 75,311 dwt Panamax dry bulk carrier built in 2001, is being chartered by Louis Dreyfus Commodities Suisse S.A., a major international trader of bulk commodities such as agricultural produce and metal ores. The charter is projected to start in the middle of February this year at a rate of $21,000 per day.

The 74,444 dwt m/v Erato, built in 2004, is to be chartered by Isle of Man-based C Transport Panamax Ltd, part of the Drylog Bulk Shipping Group, at a gross charter rate of US$20,500 per day for between twenty-one and twenty-four months.

(pic: The Erato. © Diana Shipping)