Diana Shipping charters out bulker to Ming Wah

Phillipe /MarineTraffic

New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Ming Wah International Shipping for one of its vessels.

Ming Wah chartered the 2011-built, 82,165 dwt kamsarmax bulker
Leonidas P. C. The gross charter rate is $17,000, minus a 5% commission paid to third parties, for a period until a minimum of August 20, 2025, up to a maximum of October 20, 2025.

The charter is expected to begin on February 21, 2024, and the employment of the vessel will generate around $9.18m of gross revenue for the minimum scheduled period of the time charter. The vessel’s previous contract was won in March last year with Cargill for the same daily rate.

Upon completion of the recently announced sale of the Artemis panamax, the fleet of the Semiramis Paliou-led company will consist of 39 dry bulk vessels four newcastlemax, nine capesize, five post-panamax, six kamsarmax, six panamax, and nine ultramax.

As of today, the combined carrying capacity of the company’s fleet including the Artemis, is around 4.5m dwt with a weighted average age of 10.64 years.

Earlier this month, the company announced a time charter contract with Japanese shipowner Nippon Yusen Kaisha (NYK) for the 206,040 dwt newcastlemax bulker Philadelphia.