Diana Shipping, a Greek owner of tankers listed on the New York Stock Exchange, has successfully secured a 42% increase in the daily rate for its capesize tanker, GP Zafirakis, in a new charter contract with Classic Maritime.
Details of the New Contract
The tanker GP Zafirakis, built in 2014 and with a capacity of 179,492 tons, was signed at a rate of $38,000 per day, with less than a 5% commission. This rate represents a significant increase compared to the $26,800 per day currently paid by the Japanese shipping company NYK. The start of the new contract is scheduled for October 10.
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Duration and Economic Implications
This agreement will last for at least until October 1, 2027, and there is a possibility that the tanker may remain on lease until December 15, 2027. Diana Shipping has stated that it expects this minimum employment period to generate approximately $13.34 million in gross revenue.
The increase in the daily rate by $11,200 compared to the previous employment of the tanker represents a significant improvement in Diana Shipping's financial condition. Additionally, this agreement marks another deal between the ownership led by Semiramis Palios and Classic Maritime. In July, Diana had contracted its new tanker of 206,040 tons, Philadelphia, to the charterer at a rate of $35,500 per day, which also represented a 65% increase compared to the previous rate with Refined Success under Cosco's control.
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