Diana bags Cargill deal

Diana Shipping has secured work for a couple of its panamax bulkers.

Cargill has taken on a vessel which has just come off hire from Norden while Sino East Transportation has hooked the Greek owner’s latest newbuilding.

Diana says Cargill has fixed the 73,600-dwt Arethusa (built 2007) for between 18 and 24 months.

It will collect $7,300 daily from the charter, down by around $2,000 daily on what it was netting from Norden.

It becomes the seventh ship in Diana’s 30-strong fleet to be working for Cargill.

Sino East has taken the 98,700-dwt Polymnia (built 2012), which Diana bought last month, for up to 55 days.

The contract, which is unusually short for the owner, is worth $8,000 daily.

Panamax bulkers are presently earning an average of $7,453 daily on the spot market, according to the Baltic Exchange.

Diana paid $24.6m for the Polymnia in what was its fifth dip into the sale-and-purchase market in 2012.

It revealed the two charters as it turned out a slightly stronger than expected third quarter profit.

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