Diana Shipping Announces Time Charter Contract with Ausca

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(Image Courtesy: Livebunkers)

Diana Shipping Inc. (NYSE: DSX), on Wednesday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Selina.

The gross charter rate is US$11,750 per day, minus a 5% commission paid to third parties, for a period of minimum seven (7) months to maximum nine (9) months. The charter commenced on July 15, 2019.

The “Selina” is a 75,700 dwt Panamax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$2.47 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 44 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 16 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.4 million dwt with a weighted average age of 9.28 years.

Sea News, July 18