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

Paragon Shipping announced today that it recently took delivery of the M/V Gentle Seas and the M/V Peaceful Seas, two Ultramax vessels with cargo carrying capacity of approximately 63,350 dwt each, from Yangzhou Dayang Shipbuilding Co. Ltd. in China.
Sentiment remained bullish in the Atlantic Panamax market with tonnage relatively tight, but there were few fresh stems on offer and trading was slow, sources said Monday.
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today 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 “Triton”.
Weak freight rates have driven second prices of dry bulk carriers lower and signs of a fall in newbuilding prices have started to emerge, said shipping analysts at Arctic Securities ASA in Oslo, Norway.




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