Diana Shipping finds work for panamax bulker with Cargill

New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Cargill for one of its panamax dry bulk vessels.

Cargill hired the 2014-built, 77,539 dwt ice-class bulker Atalandi. The gross charter rate is $14,600 per day, minus a 4.75% commission paid to third parties, for a period until a minimum of June 1, 2025, up to a maximum of July 31, 2025. The charter is expected to commence on July 19, 2024.

The employment of the bulker is anticipated to generate approximately $4.57m of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of the Houston, Diana Shipping’s fleet will consist of 38 dry bulk vessels – four newcastlemaxes, eight capesizes, five post-panamaxes, six kamsarmaxes, six panamaxes, and nine ultramaxes.

The company also expects to take delivery of two methanol dual fuel new-building kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively.

Currently, the combined carrying capacity of the fleet including the Houston and excluding the two vessels not yet delivered, is approximately 4.4m dwt with a weighted average age of 10.94 years.