Diana Shipping: Direct Continuation of Time Charter Contract for M/V Medusa

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Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Medusa.

The gross charter rate is US$11,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum 10 January 2022 up to maximum 20 March 2022. The new charter period is expected to commence by mid-November 2020.

The “Medusa” is a 82,194 dwt Kamsarmax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$4.52 million of gross revenue for the minimum scheduled period of the time charter.

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