Glencore Grain has hired the Protefs at $6,250 a day minus a 5% commission paid to third parties for a minimum of 11 months and a maximum of 14 months.

The charter should generate $2.06m of gross revenue over the minimum scheduled period of the deal.

The charter which began on 3 April compares to a $9,000 a day rate, again minus a 5% commission, paid by Cargill from September 2012 to the end of March this year.

But