Diana Shipping Announces Time Charter Contracts for Two Capesize Vessels

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(Image Courtesy: Patrick Westeel / Marine Traffic)

Diana Shipping has entered into a time charter contract with Singapore Marine for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$15,500 per day, minus a 5% commission paid to third parties, for a period of minimum 17 months to about 19 months. The charter commenced on June 7, 2019.

The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG, Lübeck, Germany, for one of its Capesize dry bulk vessels, the m/v Boston. The gross charter rate is US$15,300 per day, minus a 5% commission paid to third parties, for a period until minimum April 1, 2021 up to maximum June 30, 2021. The charter commenced on June 7, 2019.

The “Boston” is a 177,828 dwt Capesize dry bulk vessel built in 2007.

The employments of “New York” and “Boston” are anticipated to generate approximately US$17.91 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 45 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 17 Panamax). The combined carrying capacity of our fleet is approximately 5.5 million dwt with a weighted average age of 9.26 years.

Sea News, June 11