Diana Shipping is set to rake in almost $11m from two time charters that are both more than a year in duration but are fetching much lower rates.
The New York-listed bulker owner has extended the fixture for 77,529-dwt ice-class panamax Atalandi (built 2014) with Aquavita International for between 13 months and 15 months at $13,250 per day.
The charter is set to begin on 15 February.
Diana is currently earning $24,600 per day off a 16-month charter with Aquavita that is set to end on 15 February.
Semiramis Paliou-led Diana has also signed a new time charter contract for 81,297-dwt panamax Leto (built 2010) with Cargill International for between 13 months and 15 months at $14,500 per day.
The fixture is expected to begin by the end of this month.
Diana is currently earning $25,500 per day off a 13-month charter with Aquavita International that is set to end on 31 January.
Diana expects to make at least $10.7m from the minimum periods of the two new contracts.
Cobelfret fixed Xiamen ITG Group Corp’s 81,994-dwt ITG Uming 3 (built 2020) for six months to eight months at $16,000 per day after taking delivery of the vessel in Yosu on 10 January. Cobelfret can redeliver the ship anywhere in the world at the end of the charter.
The daily average rate for a 12-month charter of an 82,000-dwt panamax was $15,675 per day on 20 January, up from $15,500 per day since 6 January, according to Clarksons.
All three panamaxes are earning much more per day on time charters than what the spot market offered on Thursday.
The Panamax 5TC basket of spot-rate averages across five key routes improved $91 per day to $9,409 per day on Thursday
The Capesize 5TC fell the most of all average spot rates for bulkers on Thursday —14.5% to $4,551 per day — on Thursday, but Clarksons pointed out that capesizes that are eco or scrubber-fitted earn much higher premiums.
