Diana Shipping Announces Time Charter Contract with SwissMarine

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M/V Seattle (Image Courtesy: Marine Traffic)

Diana Shipping, 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 SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Seattle.

The gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum sixteen (16) months to maximum nineteen (19) months. The charter is expected to commence on December 25, 2018.

The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011. This employment is anticipated to generate approximately US$7.68 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists 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 is approximately 5.7 million dwt with a weighted average age of 9.10 years.

Sea News, December 21

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