Cargill Extends Charter for Diana’s Bulker

Greek shipping company Diana Shipping has extended a time charter contract with Swiss Cargill International for one of its Kamsarmax dry bulk vessels, the M/V Medusa.

The gross charter rate is this time lower and amounts to USD 11,000 per day, compared to the previous USD 14,000 per day.

The new time charter deal has been signed for a period of about eleven to maximum thirteen months, with the charter expected to commence on November 15, 2019.

This employment of the 2010-built ship is anticipated to generate approximately USD 3.47 million of gross revenue for the minimum scheduled period of the time charter, according to Diana Shipping.

The 82,194 dwt Medusa has been working for Cargill for the past few years. The latest charter commenced in September 2018.

Upon completion of the recently announced sale of one Panamax dry bulk vessel, the 2005-built Clio, Diana Shipping’s fleet will consist of 42 dry bulk vessels.