Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, through a separate wholly-owned subsidiary, has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, “Hull No. H2548”, which is currently under construction. The gross charter rate is US$11,750 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to about sixteen (16) months. The charter is expected to commence on January 6, 2017.
As previously announced, the m/v San Francisco is a newbuilding Newcastlemax dry bulk vessel of approximately 208,500 dwt.
This employment is anticipated to generate approximately US$4.23 million of gross revenue for the minimum scheduled period of the time charter.
Excluding the aforementioned vessel, Diana Shipping Inc.’s fleet currently consists of 46 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). Diana Shipping also expects to take delivery of one new-building Newcastlemax dry bulk vessel during the first quarter of 2017. As of today, the combined carrying capacity of Diana Shipping’s fleet, excluding the two vessels not yet delivered, is approximately 5.2 million dwt with a weighted average age of 8.13 years.
About Diana Shipping
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. Diana Shipping’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.