Phaethon International

7-January-2020

Ukraine based ship operator Phaethon International chartered in 2001 built panamax bulk carrier 75K MV Oceanis from New York-listed shipowner and operator Diana Shipping for a year at $9,200 per day. Simeon Palios led Diana Shipping anticipates earning $3.31 million in one year from Phaethon International deal.

Previously, 2001 built panamax bulk carrier 75K MV Oceanis was chartered out to Ausca Shipping at $10,350 per day for a year.

In September 2019, Sinotrans Shipping chartered out 2012 built panamax bulk carrier 75K DWT MV Great Hope to Sino East Transportation for a year at $12,500 per day.

In January 2020, the average one-year time-charter rate for panamax bulk carriers stands at $10,375 per day, down from $12,850 per day in September 2019.

Athens-based, Nasdaq listed Diana Shipping’s has a fleet of 41 dry bulk carriers

8-January-2020

Ukraine based ship operator Phaethon International chartered in two (2) panamax bulk carriers from Athens-based, Nasdaq listed Diana Shipping.

Phaethon International chartered in 2013 built panamax bulk carrier 77K MV Ismene for a year at $10,800 per day. Phaethon International is going to pay around $4.21 million in total during the panamax charter period.

Simeon Palios led Diana Shipping has fixed two (2) panamax bulk carriers to Phaethon International in two days. Yesterday, Phaethon International chartered in 2001 built panamax bulk carrier 75K MV Oceanis from New York-listed shipowner and operator Diana Shipping for a year at $9,200 per day.

Diana Shipping’s three (3) other panamax bulk carriers in its fleet will be available in a few weeks.

Besides MV Oceanis, Ukraine based ship operator Phaethon International also chartered in 2006 built panamax bulk carrier 75K DWT MV Naias through April 2021 at $10,000 per day from Diana Shipping. Currently, panamax bulk carriers one-year time charter rates are around $10,375 per day.

26-November-2019

Phaethon International Company chartered in 2004 built panama bulk carrier 73K DWT MV Protefs from New York listed Diana Shipping for a period of 13 to 16 months for gross daily rate of $9,900, minus 5% commission. MV Protefs’ charter is expected to commence on 27 November 2019. Since September 2018, MV Protefs was on timecharter to Hudson Shipping and was earning a gross daily rate of $11,000, minus 3.75% commission.

In another deal, New York listed Diana Shipping chartered out 2013 built post-panamax bulk carrier 87K DWT MV Electra to Oldendorff Carriers for 11 to 13 months for a gross daily rate of $10,250, minus a 5% commission. Last year, MV Electra was on timecharter to Uniper Global Commodities at a gross daily rate of $13,500.

6-July-2017

Greek shipowner and operator Merchant Marine Management 2010 built post panamax dry bulk carrier 91K DWT M/V Americana is detained in Singapore by mortgagee bank HSH Nordbank for $34 million. M/V Americana current value is about $16 million. In 2015, M/V Americana was detained by charterers Phaethon International in a dispute over bunker payments.

25-May-2017

Glencore Agriculture chartered in 2013 built kamsarmax dry bulk carrier 81K M/V Astarte for 17 months $9,000 per day from  Simeon Palios-led New York-listed Diana Shipping. Glencore Agriculture charter will begin on June 12, 2017. M/V Astarte charter is one of the longest dry bulk carrier charter since March 2017.

In April 2017,  Simeon Palios-led New York-listed Diana Shipping bought M/V Astarte from Greek shipowner Thenamaris. Diana Shipping also chartered out 2004 built panamax bulk carrier 74K M/V Erato to Phaethon International for $7,250 per day. Currently, Baltic Exchange estimates panamax spot rates at $6,820 per day but panamax dry bulk carrier rates are expected to rise in the near future.