Diana Shipping Announces Time Charter Contract with SwissMarine

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(Image Courtesy: The MediTelegraph)

Diana Shipping Inc. has 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 Capesize dry bulk vessels, the m/v Houston.

The gross charter rate is US$19,000 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to about eleven (11) months. The charter is expected to commence on May 9, 2018. The m/v Houston is currently chartered, as previously announced, at a gross charter rate of USD 10,000 per day, minus a 5% commission paid to third parties.

The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009. This employment is anticipated to generate approximately USD 4.85 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 8.71 years.

Sea News, May 8