Freight rates more than double in Cargill’s new time charter

Aslak Berge

It has become much more expensive to transport feed ingredients.

The bulk shipping company Diana Shipping announced on Monday that it has entered into a time charter contract with Cargill for the Panamax dry bulk carrier ‘Artemis’ through a separate wholly owned subsidiary.

The gross charter rate is $21,250 per day, minus a 4.75 percent commission paid to third parties, for a period up to a minimum of June 20, 2023 up to August 20, 2023, at the latest. The charter started on the same day.

‘Artemis’ was previously chartered to Glencore Agriculture at a gross charter rate of $10,250 per day, minus a 5 percent commission paid to third parties.

This means that freight rates have more than doubled since the last charter ended.

The commitment of ‘Artemis’ is expected to generate approximately $9.54 million in gross revenue for the minimum period of the charter. ‘Artemis’, weighing 76,942 tons, was built in 2006.


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