1. Home
  2. Maritime industry news - PortNews
  3. Diana Shipping announces time charter contracts for m/v Newport News and m/v Los Angeles with SwissMarine

2019 February 26   12:06

Diana Shipping announces time charter contracts for m/v Newport News and m/v Los Angeles with SwissMarine

Diana Shipping Inc. , a global shipping company specializing in the ownership of dry bulk vessels, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Newport News, the company said in its release. The gross charter rate is US$16,500 per day, minus a 5% commission paid to third parties, for a period of minimum sixteen (16) months to maximum nineteen (19) months.

The “Newport News” is a 208,021 dwt Newcastlemax dry bulk vessel built in 2017.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum fifteen (15) months to maximum eighteen (18) months. The charter is expected to commence on March 3, 2019.
 
The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

The employments of “Newport News” and “Los Angeles” are anticipated to generate approximately US$13.88 million of gross revenue for the minimum scheduled period of the time charters.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, m/v Danae and m/v Dione, Diana Shipping Inc.’s fleet will consist of 46 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 18 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Danae and m/v Dione, is approximately 5.7 million dwt with a weighted average age of 9.29 years.

About the Company

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.

News 2025 March 16

2025 March 15

2025 March 14

2025 March 13