Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, yesterday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with EGPN Bulk Carrier Co., Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Boston.
The gross charter rate is US$17,000 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 commenced Wednesday (Dec 06). The m/v Boston was chartered, as previously announced, to Clearlake Shipping Pte. Ltd., Singapore, at a gross charter rate of US$13,000 per day, minus a 4.75% commission paid to third parties, for the agreed period of the time charter.
The “Boston” is a 177,828 dwt Capesize dry bulk vessel built in 2007.
This employment is anticipated to generate approximately US$8.16 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 8.29 years.
Source: Diana Shipping