Diana Shipping has fixed two Newcastlemax bulkers on period charter as capesize rates continue to dwindle.

The 208,021-dwt Newport News (built 2017) was fixed to Geneva-based SwissMarine Services for 16 to 19 months at a gross daily rate of $16,500, commencing today.

The contract’s net rate is $15,675 per day, after 5% commission is paid to third parties.

Another Newcastlemax, the 206,104-dwt Los Angeles (built 2012), was chartered to SwissMarine for 15 to 18 months at a gross daily rate of $13,250 or $12,588 per day minus commissions.