Diana Shipping has announced the extension of its charter agreement with Cobelfret, demonstrating the continued strong partnership between the two companies. This extension reflects the confidence in the ongoing collaboration and further solidifies the commitment to providing reliable and efficient shipping services. Diana Shipping remains dedicated to delivering high-quality solutions to its customers, and this extended charter is a testament to that commitment.
New York-listed Greek bulker owner Diana Shipping has extended the time charter contract for one of its post-panamax bulkers.
Details of the Extension
Diana Shipping agreed on an extension for its 2012-built, 98,697-dwt dry bulk vessel Amphitrite with Cobelfret. The original deal for the bulker started on November 10, 2022. The charter was supposed to fix the vessel to Cobelfret until December 1, 2023, at the earliest and February 15, 2024, at the latest.
The gross charter rate of the extension is $12,250 per day for the first 30 days of the charter period and $15,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties, for a period until minimum November 15, 2024, up to maximum January 15, 2025.
Financial Impact
The new charter period is expected to commence on January 12, 2024, and the extension is anticipated to generate around $4.46m of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Fleet Overview
Diana Shipping’s fleet currently consists of 40 dry bulk vessels – 4 newcastlemax, 9 capesize, 5 post-panamax, 6 kamsarmax, 7 panamax, and 9 ultramax. As of today, the combined carrying capacity of the company’s fleet is approximately 4.5m dwt with a weighted average age of 10.55 years.
