Dry Cargo
9/7/2011

Panamax dry bulk carrier M/V Arethusa delivered to Diana Shipping


Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced Friday (07.08) that the Company has taken delivery on July 7, 2011 of the m/v "Corona", renamed "Arethusa", a 73,593 dwt Panamax dry bulk carrier built in 2007.
As previously announced, the Arethusa is chartered to Cargill International S.A., Geneva for a period of about eleven (11) months to about thirteen (13) months, at a gross charter rate of US$13,250 per day, minus a 5% commission paid to third parties. The charter commenced today.
This employment is anticipated to generate approximately US$4.2 million of gross revenue for the minimum scheduled period of the charter.
Including the newly-delivered "Arethusa", the Diana Shipping Inc. fleet currently consists of 24 dry bulk carriers (15 Panamax, 1 Post-Panamax and 8 Capesize) with a weighted average age of 5.8 years. The Company also previously announced two Newcastlemax new-building dry bulk carriers that are expected to be delivered during the first half of 2012.

Source: Diana Shipping Inc.


Dry Cargo News

Scorpio Bulkers announced today that it has closed two previously announced credit facilities, taken delivery of three newbuilding vessels, and agreed to time charter-out a Capesize newbuilding that is currently under construction in China.
Despite expectations of an improved market environment in 2014, particularly in the Capesize sector, average spot earnings registered year-on-year declines across the four major bulkcarrier sectors.
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Melite.
Lion Shipbrokers report bulk carrier M/V "ARIETTA A" (56,947 dwt, blt 2011 Liaoning/China) was sold to Greek Buyers for $19 million.




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