Diana Shipping gets lower rate on long-term kamsarmax fixture   

New York-listed Greek bulker owner Diana Shipping has chartered out its 2010-built kamsarmax
Medusa to ASL Bulk Shipping, but this time it will not bring in as much as it did on a significantly shorter charter that ended this month.

The 82,194 dwt Tsuneishi-built vessel, which Cargill last year contracted at 26,000 per day from March, has now been fixed for $11,750 less until at least February 15, 2025. The charter at $14,250 per day has already started and can be extended up to April 15, 2025.

The Semiramis Paliou-led company, which has a fleet of 42 bulkers, of which six are kamsarmaxes, said it should earn close to $9m, excluding options. For comparison, the Cargil deal, which lasted just over 14 months, earned about $11.2m.

Kamsarmax one-year time charter rates of up to around 10 years old averaged $16,075 last week, or $16,787 per day to date, while three-year deals averaged $14,000 per day, according to Clarksons data.

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