Diana Shipping, a well-known shipping company, has successfully secured a new rate for its Kamsarmax tanker named Astarte. This tanker has been chartered to Aquavita International, and its daily rate has increased to $17,000.
Details of the New Contract
The tanker Astarte, built in 2013 and with a deadweight tonnage (dwt) of 81,513 tons, will transition to the new contract starting September 20, 2023. This tanker will replace its current contract with Propel Shipping, which had a rate of $12,500 per day. The new rate is $4,500 or 36% higher than the previous contract.
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Charter Duration and Revenue Forecast
Aquavita International will have the tanker Astarte at least until September 1, 2027. This contract may extend until November 15, 2027. Diana Shipping estimates that the minimum duration of this contract will generate approximately $5.81 million in revenue, which includes a 4.75% commission for third parties.
This new contract continues the positive trend in coverage for Diana Shipping's property owners led by Samira Mis Palio. In July, Diana transferred another tanker named Medusa with a capacity of 82,194 tons to a new contract with Aquavita at a rate of $16,850 per day, replacing a contract with Cargill at a rate of $13,000 per day.
Recent developments at Diana Shipping reflect an increase in demand for shipping and tanker services in the global market. By securing new contracts and higher rates, the company aims to strengthen its position in the shipping and oil industry.
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