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  • 2019 November 25 11:00

    Diana Shipping announces time charter contracts for m/v Electra with Oldendorff and m/v Protefs with Phaethon

    Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG, Lübeck, Germany, for one of its Post-Panamax dry bulk vessels, the m/v Electra, the company said in its release. The gross charter rate is US$10,250 per day, minus a 5% commission paid to third parties, for a period of minimum eleven months to maximum thirteen.

    The “Electra” is a 87,150 dwt Post-Panamax dry bulk vessel built in 2013.

    The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Protefs. The gross charter rate is US$9,900 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2021 up to maximum March 31, 2021. The charter is expected to commence on November 27, 2019.
     
    The “Protefs” is a 73,630 dwt Panamax dry bulk vessel built in 2004.

    The employments of “Electra” and “Protefs” are anticipated to generate approximately US$7.29 million of gross revenue for the minimum scheduled period of the time charters.

    Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of our fleet is approximately 5.2 million dwt with a weighted average age of 9.41 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.




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