Diana Shipping enters time charter contract with Cargill

Bulker owner Diana Shipping has entered into a time charter contract with Cargill International, Geneva, for one of its dry bulk vessels, the Medusa.

The gross charter rate is US$14,000 per day, minus a 4.75 per cent commission paid to third parties, for a period of minimum 13 months to maximum of 15 months. The new charter period commenced September 4.

The Medusa was previously chartered at a gross rate of US$10,000 per day, minus a 4.75 per cent commission paid to third parties.

The Medusa is a 82,194DWT dry bulk vessel built in 2010. Diana Shipping anticipates this employment will generate approximately US$5.46 million of gross revenue for the minimum scheduled period of the time charter.