Diana Shipping said it will extend an existing time charter for a capesize, but at a rate 35% lower than its previously announced level. The Sideris employment extension should generate approximately $2.54m of gross revenue for the minimum scheduled period of the time charter, Diana said. Rio Tinto had last fixed the Sideris in February for a 10 to 14 month tenor at $10,000 per day. The fixture comes amid an overall still weak environment for capesize rates. On Friday, the Baltic Exchange’s index of worldwide capesize freight rates fell to 524, its weakest since 17 April.
