MOL hires cape from Diana Shipping

New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Japan’s largest shipowner Mitsui O.S.K. Lines (MOL) for one of its capesize vessels.

The company hired the 2015-built, 179,426 dwt bulker Santa Barbara. The gross charter rate is $22,000 per day, minus a 5% commission paid to third parties, for a period until a minimum of October 20, 2025, up to a maximum of December 20, 2025.

The charter is set to begin on December 28 following the end of the charter with Smart Gain Shipping. The employment of the bulker is anticipated to generate approximately $6.42m of gross revenue for the minimum scheduled period of the time charter.

On Monday, the Greek firm announced it won a time charter contract with China Resource Chartering for its 75,403 dwt Maera kamsarmax. The charter will last until a minimum of September 20, 2025, and bring in $2.31m for that period.

Diana Shipping’s fleet consists of 38 dry bulk vessels – four newcastlemaxes, eight capesizes, five post-panamaxes, six kamsarmaxes, six panamaxes, and nine ultramaxes.

The company also expects to take delivery of two methanol dual fuel new-building kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively.

Currently, the combined carrying capacity of the fleet excluding the two vessels not yet delivered, is approximately 4.2m dwt with a weighted average age of 11.22 years.