Diana rolls panamax bulker into stronger Cargill fixture
Greek shipowner Diana Shipping has locked in a significant rate hike for the panamax vessel Leto through a long-term charter extension with Cargill.
Diana Shipping has reached an agreement with Cargill to extend the employment of the Leto, a panamax bulk carrier built in 2010. According to Splash 247, the new arrangement represents a 41 percent jump in earnings compared to the vessel's previous daily rate. The New York-listed firm will receive $18,000 per day for the vessel, which has a deadweight capacity of 81,297 tons. The contract extension officially begins on September 10 and is scheduled to last until at least the start of September 2027. Under these terms, the 81,297 dwt ship could remain under Cargill's control until late October of that year. The shipowner estimates that the minimum duration of this charter will produce approximately $6.34 million in total gross revenue. This latest deal follows a pattern of improving rates for the Greek company's fleet, which currently totals 36 dry bulk vessels. Recent fixtures include the panamax Atalandi at $16,500 per day and the capesize Florida at $30,500 per day. The firm is also expanding its capacity with two methanol-capable kamsarmax newbuilds slated for arrival in 2027 and 2028.
Editorial Desk — Trade Flow Insight. Reporting and market notes compiled by the Trade Flow Insight editorial team.
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