Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing 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 Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore.
The gross charter rate is US$15,000 per day, minus a 5% commission paid to third parties, for a period of about nineteen (19) months to about twenty-two (22) months. The charter commenced on May 19, 2019.
The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.
This employment is anticipated to generate approximately US$8.33 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Erato, Diana Shipping Inc.’s fleet will consist of 45 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 17 Panamax).
As of today, the combined carrying capacity of the Company’s fleet, including the m/v Erato, is approximately 5.5 million dwt with a weighted average age of 9.28 years.
Sea News, May 23