Diana Shipping signs time charter contract for mv Norfolk with Swissmarine

By Vessels

Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, Friday 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 Norfolk.

Diana Shipping signs time charter contract for mv Norfolk with Swissmarine
Caption: Bulk carrier Norfolk - Image courtesy of W. van der Moolen

The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-one (21) months to maximum twenty-four (24) months. The charter is expected to commence on December 1, 2017.

The m/v Norfolk is currently chartered, as previously announced, to Trafigura Maritime Logistics Pte. Ltd., Singapore, at a gross charter rate of US$12,000 per day, minus a 5% commission paid to third parties.

The “Norfolk” is a 164,218 dwt Capesize dry bulk vessel built in 2002.

This employment is anticipated to generate approximately US$8.35 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.26 years.

Source: Diana Shipping