Diana Shipping Inc. announces time charter contract for Ultramax vessel with Cargill
Published by Alfred Hamer,
Editorial Assistant
Dry Bulk,
Diana Shipping Inc., a global shipping company specialising in the ownership and bareboat charter-in of dry bulk vessels, has announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Andromeda. The gross charter rate is US$14 000/d, minus a 4.75% commission paid to third parties, for a period until minimum 15 November 2025 up to maximum 15 January 2026. The charter is expected to commence on 29 March 2025. The m/v DSI Andromeda is currently chartered, as previously announced, to Bunge SA, Geneva, at a gross charter rate of US$13 500 per day, minus a 5.00% commission paid to third parties.
The DSI Andromeda is a 60 309 dwt Ultramax dry bulk vessel built in 2016. The employment of DSI Andromeda is anticipated to generate approximately US$3.18 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 37 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 Panamax and 9 Ultramax). The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by 2H27 and 1H28, respectively. As of 20 March 2025, the combined carrying capacity of the Company’s fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt with a weighted average age of 11.39 years.
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Read the article online at: https://www.drybulkmagazine.com/shipping/24032025/diana-shipping-inc-announces-time-charter-contract-for-ultramax-vessel-with-cargill/
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