Greecebased Diana Shipping has signed a time charter contract with Aquavita International for one of its Kamsarmax dry bulk vessels, called m/v Astarte.

The deal includes a gross charter rate of $11,750 per day and excludes a 5% commission paid to third parties for a minimum period of 14 to 16 months.

The charter period is expected to begin on 18 January.

Built in 2010, Astarte is a dry bulk vessel that can accommodate 81,513 deadweight tonnage (dwt) of goods.

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The deal is expected to generate gross revenue of approximately $4.94m for Diana Shipping for the minimum scheduled period of the time charter.

With the sale of Panamax dry bulk vessel Calipso, Diana Shipping’s fleet consists of 41 dry bulk vessels, including four Newcastlemax, 14 Capesize, five Post-Panamax, five Kamsarmax and 13 Panamax.

The total carrying capacity of Diana Shipping’s fleet is approximately 5.2 million dwt with a weighted average age of 9.58 years.

Earlier this month, Diana Shipping signed two time charter contracts with Phaethon International Company for its Panamax dry bulk vessels, Ismene and Oceanis.

The contract for 77,901dwt Ismene includes a gross charter rate of $10,800 per day for a minimum period of 13 to 15 months.

The contract for 75,211dwt Oceanis requires a gross charter rate of $9,200 per day for a minimum period of 12 to 14 months.

Both contracts with Phaethon International Company do not include the 5% commission paid to third parties.