Diana Shipping Inc., a shipping company specializing in the ownership and operation of dry bulk vessels, has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v Erato. The gross charter rate is US$6,500 per day, minus a 5% commission paid to third parties, for a period of minimum eighteen months to maximum twenty-four months. The charter is expected to commence at the middle of January 2013.
This employment is anticipated to generate approximately US$3.5 million of gross revenue for the minimum scheduled period of the charter.
The Erato is a 74,444 dwt Panamax dry bulk vessel built in 2004.
