Diana Shipping Announces Cancellation of Time Charter Contract for m/v Polymnia

Diana

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced the cancellation of the time charter contract with Al Ghurair Resources International L.L.C., Dubai, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia, as announced on October 10, 2019.

Charterers have exercised their right to cancel the time charter contract since the vessel was not delivered, due to unforeseen events, unrelated to the condition of the vessel, during the pre-agreed period. The m/v Polymnia is currently chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$16,000 per day, minus a 4.75% commission paid to third parties. At the moment the Company is seeking a replacement charter for the m/v Polymnia.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

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