Diana Lines Up Time Charter with Bunge

Dry bulk shipowner Diana Shipping on Monday announced that it has lined up a time charter contract with agribusiness Bunge for one of its Ultramax dry bulk vessels, DSI Andromed—a 60,309 dwt Ultramax dry bulk vessel built in Japan in 2016.

The charter, which Diana entered through a separate wholly-owned subsidiary, is expected to commence on November 24, 2023.

The gross charter rate is $13,500 per day, minus a 5% commission paid to third parties, for a period until minimum February 20, 2025 up to maximum April 20, 2025.

Diana said the employment is anticipated to generate approximately $6.03 million of gross revenue for the minimum scheduled period of the time charter.