Diana Shipping has extended a one-year charter of an ultramax bulker with Western Bulk Carriers for at least another year in a market with few period deals of that length, but the owner will earn a little less money per day on the continuance.
New York-listed Diana has fixed the 60,309-dwt DSI Aquila (built 2015) to Western Bulk from 12 November 2023 until 10 November 2024 with the option to continue the charter until 10 January 2025.
The Athens-based owner of 41 bulkers has opted to extend the charter at a daily rate of $12,500, a rate that is below the $13,300 per day the ship earned in the past year from Western Bulk, according to Diana’s website.
The previous rate for the Western Bulk employment was below Clarksons Research’s October 2022 market assessment of $16,069 per day for one-year fixtures of ultramax bulkers.
The new rate also fell short of Clarksons Research’s 27 October market assessment of $14,125 per day for one-year ultramax deals, which is down from a 22 September assessment of $15,125 per day.
Semiramis Paliou-led Diana, which did not immediately respond to an email asking about the lower rate, expects to make about $4.49m in revenue from the minimum period of the charter extension.
The last bulker fixture of at least a year took place about two weeks ago, according to the Baltic Exchange.
Japanese owner Nagashiki Kisen chartered the 82,042-dwt panamax Admiral Jimmu (built 2020) on 20 October at $14,500 per day for between 11 months and 13 months.
This daily rate was in line with Clarksons Research’s 20 October market assessment of $14,563 per day for one-year panamax fixtures.
Asyad Shipping, the charterer, took delivery of the vessel on 22 October and may redeliver it anywhere in the world at the end of the fixture.
