According to Splash247, New York-listed Greek bulker owner Diana Shipping has secured a 41% rate increase for the panamax Leto in a direct charter continuation with commodities giant Cargill, fixing the 2010-built, 81,297 dwt vessel at $18,000 per day, less a 4.75% commission, from September 10. Splash247 reported the deal runs until at least September 1, 2027, with the maximum period stretching to the end of October.
Vessel and charter details
Splash247 reported that the Leto is currently earning $12,750 per day under its existing Cargill charter, making the new rate a $5,250 per day increase. The same report said Diana Shipping stated the minimum extension would generate about $6.34m in gross revenue. The renewal more than reverses the rate cut Diana accepted when the Leto moved from employment with ASL Bulk at $16,000 per day to Cargill in March 2025, according to Splash247.
The renewal more than reverses the rate cut Diana accepted when the Leto moved from employment with ASL Bulk at $16,000 per day to Cargill in March 2025, according to Splash247.
The chart below summarizes the reported fixtures from Splash247:
| Vessel | Type | Charterer | Daily rate | Key details |
|---|---|---|---|---|
| Leto (previous) | Panamax bulker | Cargill | $12,750 | Existing charter |
| Leto (new) | Panamax bulker | Cargill | $18,000 | 41% increase, from September 10, less 4.75% commission |
| Leto (March 2025) | Panamax bulker | ASL Bulk | $16,000 | Prior employment before moving to Cargill |
| Atalandi | Panamax bulker | Stone Shipping | $16,500 | Recently fixed |
| Florida | Capesize bulker | NYK | $30,500 | Recently fixed |
Recent fleet fixtures
Splash247 reported that Diana has recently rolled several vessels onto stronger rates. The panamax Atalandi was fixed to Stone Shipping at $16,500 per day, and the capesize Florida was secured by NYK at $30,500 per day, the article said. These disclosures, reported by Splash247, were included alongside the Leto fixture to illustrate the current level of dry-bulk charter earnings on Diana's booked tonnage.
Fleet context and implications
According to Splash247, Diana's fleet comprises 36 bulkers with a combined capacity of about 4.1m dwt. The company also has two methanol dual-fuel kamsarmax newbuildings scheduled for delivery in 2027 and 2028, according to the report.
Because the Leto charter runs until at least September 1, 2027, with a maximum stretch to the end of October, as reported by Splash247, the vessel will not be available for spot charter during that period. Charterers with panamax requirements can compare the Leto rate against their own fixtures, since Splash247 reported a 41% increase in Diana's charter earnings on this vessel. The source report provided the vessel size, rate, charter period and counter-party for the Leto, but did not specify a route or loading port.
Watch list
- According to Splash247, Diana's two methanol dual-fuel kamsarmax newbuildings are scheduled for delivery in 2027 and 2028, adding future capacity to the company's 36-bulker fleet.
- The Leto charter's maximum extension stretches to the end of October, which would keep the vessel with Cargill beyond the September 1, 2027 minimum, Splash247 reported.
- Splash247 reported that Diana has also fixed the Atalandi to Stone Shipping and the Florida to NYK at stronger rates, signalling the company's recent fixture rollovers.
Sources:
