Diana Shipping Announces Time Charter Contract for Los Angeles with SwissMarine

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(Image Courtesy: VesselFinder)

Diana Shipping announced on Wednesday that through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services, Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles.

The gross charter rate is USD 19,150 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to maximum twelve (12) months. The charter is expected to commence on April 17, 2018.

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012. This employment is anticipated to generate approximately USD 4.88 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.61 years.

Sea News, April 5