Diana Shipping secured a fare for her ship four times higher than the previous one

Diana Shipping Inc, the NYSE-listed shipping company of the Palios family, secured a fare four times higher than the previous one.

The ship’s charter, which is expected to generate approximately US $ 5.04 million gross revenue for the minimum scheduled timeframe period, is indicative of the recent significant increase in the bulk cargo freight market.

It is pointed out that yesterday, Friday, the Baltic Dry Index (BDI), the main indicator of the bulk cargo freight market, closed at the 5,202 points levels it had seen since the spring of 2008.

According to Diana Shipping, it chartered to Olam International Limited, Singapore, the Baltimore dry cargo bulk carrier, a Capesize dry cargo ship, 177,243 dwt in 2005, with a gross fare of $ 56,000 per day, minus 4.75% commission paid to third parties, for a journey time of approximately 90 days. The fare started retroactively from 28 September 2021. The Baltimore m / v was previously chartered to Koch Shipping Pte. Ltd., Singapore, with a gross fare of $ 13,000 per day, minus a 5% commission paid to third parties.

The fleet of Diana Shipping Inc. currently consists of 36 dry cargo ships (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). The Company is also expected to receive a Kamsarmax dry cargo ship by the end of February 2022.