Diana Shipping Announces Time Charter Contract with Pacific Bulk

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Diana Shipping Inc. on Wednesday announced that it has entered into a time charter contract with Pacific Bulk Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Semirio.

The gross charter rate is USD 20,050 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to about twelve (12) months.

The charter is expected to commence on August 30, 2018. The m/v Semirio is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of USD 14,150 per day, minus a 5% commission paid to third parties.

The “Semirio” is a 174,261 dwt Capesize dry bulk vessel built in 2007. This employment is anticipated to generate approximately USD 6.02 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 9.0 years.

Sea News, August 23

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