Diana Shipping Announces Time Charter Contract for m/v Baltimore with Koch

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(Image Courtesy: FleetMon)

Diana Shipping Inc. has announced a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore.

The gross charter rate is USD 18,050 per day, minus a 5% commission paid to third parties, for a period of about twelve (12) months to about fourteen (14) months. The charter commenced earlier today. The m/v Baltimore was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of USD 11,300 per day, minus a 4.75% commission paid to third parties.

The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005. This employment is anticipated to generate approximately USD 6.23 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 8.79 years.

Sea News, June 7