Diana Shipping has fixed two bulkers on period charters lasting longer than a year, ending a two-week stretch with deals counted only in months, according to market data.

The New York-listed owner of 41 bulkers chartered out the 208,000-dwt newcastlemax Newport News (built 2017) on Monday to NYK Group at $20,000 per day for between 17 months to 20 months, starting in mid-September.

Larger bulkers snare multi-month fixtures at above-market rates
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Diana had previously chartered the Newport News to Koch Industries unit Koch Shipping for 21 months at much higher daily rates of $28,000 per day for the first 18.5 months and then $23,500 per day for the last 2.5 months, according to information from the company.

Clarksons Research assessed the average daily charter rate for a 180,000-dwt capesize on a one-year fixture at about $14,800 per day on Friday, down from nearly $13,800 per day a week earlier and from almost $14,300 per day on 18 August.

Athens-based Diana also said it fixed the 77,100-dwt panamax Ismene (built 2013) to Parola Shipping at $12,700 per day for anywhere from 17 months to 19.5 months, starting 14 September of this year.

The ship was previously fixed to Glencore’s ST Shipping and Transport at a higher $14,000 per day from 10 January to 20 August.

Clarksons Research assessed the average daily rate for a 75,000-dwt panamax on a one-year charter at a slightly higher at $13,100 per day, up from nearly $12,800 per day on 1 September and just under $13,000 per day on 18 August.

The company expects to make about $17.8m in total revenue from the minimum periods of these two charters.

The last time the Baltic Exchange reported a period bulker charter for at least a year was on 24 August, when it listed Drylog fixing Spar Shipping’s 63,300-dwt ultramax Spar Pyxis (built 2015) for a year at $13,500 per day, starting on 1 September.

The last time that Diana, which fixes its bulkers in the period market, signed a charter that was at least a year long was when it fixed the 174,300-dwt capesize Semirio (built 2007) for anywhere from 15 months to 17 months at nearly $14,200 per day to Solebay Shipping.