Diana Shipping Adds New Ice Class Panamax Vessel to Its Fleet

first_imgzoom Diana Shipping Inc. has taken delivery of the newly built m/v “Crystalia”, an Ice Class Panamax dry bulk vessel of 77,525 dwt that was contracted in March 2012.As previously announced, the m/v “Crystalia” is time chartered to Glencore Grain B.V., Rotterdam, at a gross charter rate of US$15,800 per day, minus a 5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-one (21) months. The charter is expected to commence tomorrow.This employment is anticipated to generate approximately US$8.5 million of gross revenue for the minimum scheduled period of the charter.Including the newly delivered m/v “Crystalia”, Diana Shipping Inc.’s fleet currently consists of 37 dry bulk vessels (2 Newcastlemax, 10 Capesize, 3 Post-Panamax, 3 Kamsarmax and 19 Panamax). The Company also expects to take delivery of 1 new-building Ice Class Panamax dry bulk vessel during the first quarter of 2014, 2 new-building Newcastlemax dry bulk vessels and one Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the four vessels not yet delivered, is approximately 4.13 million dwt with a weighted average age of 6.6 years.Diana Shipping, February 21, 2014last_img read more

Province Supports Maple Syrup Production

first_imgA Cumberland county maple syrup producer can expand his business, with a government lease for forested Crown land in Leamington. “It makes good sense to lease land with a large amount of sugar maples available to Nova Scotia maple syrup producers,” said Natural Resources Minister Zach Churchill. “It’s a good way to generate revenue from Crown land, while helping to create jobs that grow the economy.” Kevin McCormick’s family has worked in the local forests since the late 1800s and the family business responded to a February 2013 provincial request for proposals that would demonstrate proactive use of Crown land. “This lease will help us double our operation over time, up to around 40,000 maple taps, with the potential for two or three new full-time employees,” said Mr. McCormick. Kevin McCormick Sales and Service will pay the province an annual rent of about $1,500 for the 33 hectares, which is in line with private-sector agricultural rents. The 20-year lease has a renewal option of 20 years. There are more than 70 maple producers with over 300,000 taps in Nova Scotia, producing more than 140,000 litres per year. About 90 per cent of maple trees in the province are untapped. Crown land that has not been set aside for conservation or recreation can generate provincial revenues through forestry, agriculture, wind energy and communications and utility towers.last_img read more