Diana Shipping Extends Charter with Phaethon International

Greek dry bulk shipowner Diana Shipping has, through a wholly-owned subsidiary, entered into a time charter contract with Phaethon International Company.

The deal was agreed for one of the company’s Panamax dry bulk vessels, the 2001-built m/v Danae.

The 75,106 dwt vessel, which started the charter on February 5, was hired at a gross charter rate of USD 8,100 per day.

Agreed for a period of eleven to fourteen months, the employment is expected to generate USD 2.67 million of gross revenue for the minimum scheduled period of the time charter.

The bulker’s previous charter deal was signed with Phaethon International in December 2017 at a charter rate of USD 10,000 per day.

Diana Shipping’s fleet currently consists of 48 dry bulk vessels with a combined carrying capacity of of 5.7 million dwt.