Diana Shipping has fixed one of its capesizes to Cargill International at a time when charter rates are on an upswing.
The Simeon Palios-led bulker owner today entered into a time charter contract with the Swiss commodity trader for its 174,261-dwt Semirio (built 2007) at $16,000 per day.
The charter period is expected to begin 1 July and last from 15 months to 18 months for anticipated gross revenue of $7.2m for the charter's minimum scheduled period.
The average time charter rate on a one-year fixture for a 170,000-dwt cape has shot up 44% to $17,250 per day in the past three months, according to Clarksons.
The company in March placed another cape, 171,800-dwt Salt Lake City (built 2005), on a two-year fixture with Cargill.
Diana will have 44 dry bulk vessels once a previously announced panamax sale is made final.
