Diana Shipping Announces Time Charter Contract for ‘New Orleans’ with SwissMarine

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Diana Shipping Inc., specialising in the ownership of dry bulk vessels, today 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 New Orleans.

The gross charter rate is USD 21,000 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum thirteen (13) months. The charter is expected to commence on March 25, 2018.

The m/v New Orleans is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of USD 11,250 per day, minus a 5% commission paid to third parties.

The “New Orleans” is a 180,960 dwt Capesize dry bulk vessel built in 2015. This employment is anticipated to generate approximately USD 6.93 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). The company has a combined carrying capacity of approximately 5.8 million dwt with a weighted average age of 8.58 years.

Sea News, March 23

Baibhav Mishra
Author: Baibhav Mishra

Associate Editor, Sea News