Diana Shipping Extends TC for m/v Astarte with Glencore

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Astarte.

The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$14,250 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months.

The m/v Astarte was chartered, as previously announced, at a gross charter rate of US$9,000 per day, minus a 5% commission paid to third parties.

The “Astarte” is a 81,513 dwt Kamsarmax dry bulk vessel built in 2013.

The employment extension of “Astarte” is anticipated to generate approximately US$5.99 million of gross revenue for the minimum scheduled period of the time charter extension.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 9.15 years.