Glencore deal for Diana

Diana Shipping has penned a new contract for one of its panamax bulkers with Glencore.

The trading giant has fixed the 75,200-dwt Oceanis (built 2001) on a seven to 10 month deal.

In a statement Diana said the ship had secured $9,000 daily and will contribute revenue of around $1.9m.

The rate marks a marginal retreat from the $9,250 per day the vessel has been collecting from Ultrabulk for the past couple of years.

It is almost double the $5,000 daily panamaxes are earning in the struggling spot market right now.

Elsewhere in the period market today, SwissMarine has chartered the 82,900-dwt United Treasure for a year.

The Singaporean owned vessel has fetched $10,000 daily, the Baltic Exchange says.

Starboard has contracted the 76,300-dwt CIC Piraeus (built 2001) for nine to 11 months at $9,250 daily.

ICAP says the decline in the Atlantic accelerated yesterday with charterers firmly in control of the market.

Sentiment was also negative in the Pacific with fresh cargo failing to lift the mood, the broker said in its daily report last night.

“There remains too many vessels around and the market is still searching for a floor before we can say a degree of stability has been reached,” ICAP said.