Diana Shipping re-fixes ultramax to Cargill at lower rate
Diana Shipping Secures New Charter with Cargill
Diana Shipping, a prominent Greek bulker owner listed in New York, has finalized a new charter agreement with Cargill for its ultramax vessel, the DSI Pegasus. The deal, which takes effect from August 15, will see the ship chartered at a daily rate of $14,250, slightly lower than the previous contract. This agreement is set to last until at least May 20 of next year, with options for Cargill to extend the charter for an additional two months.
Details of the Charter Agreement
The DSI Pegasus, with a deadweight tonnage of 60,508, will operate under the new terms that include a 4.75% commission to third parties. Under the previous contract, which began last September, Cargill paid $15,250 per day for the vessel. Despite the reduction in daily rate, Diana Shipping anticipates generating approximately $3.92 million in revenue over the minimum duration of the new charter.
This latest fixture marks the third ultramax vessel that Diana Shipping has contracted to Cargill in recent months. Earlier agreements included the DSI Polaris, which was chartered at $12,500 per day, and the DSI Phoenix, which went out at $13,500 per day. These contracts highlight Diana Shipping’s ongoing partnership with Cargill and its strategic positioning within the bulker market.
