Diana Shipping Inc. (NYSE: DSX), 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 Panamax dry bulk vessels, the m/v Ismene.

Diana Shipping signs time charter contract for mv Ismene with Koch
Caption: Bulk carrier Ismene - Image courtesy of Tony Roberts

The gross charter rate is US$12,125 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2020 up to maximum March 31, 2020. The charter is expected to commence on December 12, 2018.

The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$4.6 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 9.08 years.

Source: Diana Shipping