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

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v “G. P. Zafirakis” (formerly Hull No. BC18.0-50), a 179,492 dwt newly built Capesize dry bulk vessel that the Company entered into an agreement to purchase in June 2014.
The High Court of Singapore has upheld a first instance decision striking out the action by Transocean Oil Pte Ltd against the Pan Ocean’s boxship “STX Mumbai” and also set aside the arrest of the vessel, Clyde & Co, Pan Ocean’s legal representatives on the case said.
A Carriers Market Report (W33) mentions Greece's Ionic Shipping has acquired bulk carrier NAVIOS TITAN (dwt 82,936 blt 2005 Japan) at the price of USD 17.7 million while New Shipping has moved for bulker LAN HAI JIN XIU (dwt 79,600 blt 2014 China) for USD 22.5 million.
Summer holidays are coming to an end, and activity in both S&P and chartering market shows signs of recovery. Pleasantly, charter rates in the dry bulk sector are improving, especially in the Capesize segment, spreading expectations for a stronger/profitable fourth quarter.






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