Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia, the company said in its press release. The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period of about twenty (20) months to maximum twenty-three (23) months. The charter commenced on June 18, 2018. The m/v Philadelphia was chartered, as previously announced, at a gross charter rate of US$15,500 per day, minus a 5% commission paid to third parties.
The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.
This employment is anticipated to generate approximately US$11.7 million of gross revenue for the minimum scheduled period of the time charter.
About Diana Shipping
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’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.