Diana Shipping Inc. , a global shipping company specializing in the ownership of dry bulk vessels, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$10,550 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 21, 2017, the company said in its press release.
The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.
Additionally, Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Myrto, for a period of minimum twelve (12) months to maximum fifteen (15) months. The gross charter rate is US$8,000 per day, minus a 4.75% commission paid to third parties.
The new charter period is expected to commence on January 16, 2017.
The “Myrto” is a 82,131 dwt Kamsarmax dry bulk vessel built in 2013.
The employment of “P. S. Palios” as well as the employment extension of “Myrto” are anticipated to generate approximately US$6.68 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of Diana Shipping’s fleet is approximately 5.7 million dwt with a weighted average age of 7.62 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.