Diana Shipping Announces TC Contract for ‘Thetis’ with Hudson

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Diana Shipping on Thursday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the m/v Thetis.

The gross charter rate is US$10,650 per day, minus a 3.75% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The charter is expected to commence tomorrow.

The m/v Thetis was chartered, as previously announced, to Ausca Shipping Limited, Hong Kong, at a gross charter rate of US$8,350 per day, minus a 5% commission paid to third parties. The “Thetis” is a 73,583 dwt Panamax dry bulk vessel built in 2004.

This employment is anticipated to generate approximately US$4.47 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, m/v Triton and m/v Alcyon, Diana Shipping Inc.’s fleet will consist of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including m/v Triton and m/v Alcyon, is approximately 5.8 million dwt with a weighted average age of 9.23 years.

Sea News, November 16

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