Diana Shipping has secured its second Cargill charter within a month, its third in four months amid a strong market.
The Simeon Palios-led bulker owner has extended a time charter contract with Cargill International for one of its kamsarmax dry bulk vessels.
The Swiss arm of US commodities trader Cargill will employ the 82,131-dwt Myrto (built 2013) for nine months to 11 months at $14,000 per day, less a 4.75% commission to third parties. The fixture began 18 July.
The employment, set to make at least $3.57m in revenue, is taking place in a market that has been on the rise.
Kamsarmax fixtures are averaging $18,506 per day on the spot market, up from $10,310 a month ago, according to the Baltic Exchange.
That comes as dry bulk rates overall are on the upswing. The trend includes capesizes, which are enjoying a six-year high in rates that currently stand at $32,963 per day, up steadily from $28,579 a week ago.
Diana on 27 June fixed its 174,261-dwt capesize Semirio (built 2007) at $16,000 per day with Cargill for 15 months to 18 months for $7.2m in gross revenue for the charter's minimum period.
Three months earlier, the company placed another capesize, the 171,800-dwt Salt Lake City (built 2005), on a two-year fixture with Cargill.
Diana Shipping's fleet consists of 16 panamaxes, 14 capesizes, five post-panamaxes, five kamsarmaxes and four newcastlemaxes.
They make up 5.4 million dwt of carrying capacity and have a weighted average age of 9.3 years.
