Diana Shipping signs time charter contract for mv Phaidra with Uniper

By Vessels

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 Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra.

Caption: Bulk carrier Phaidra - Image courtesy of Sander van den Heuvel

The gross charter rate is US$12,700 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fifteen (15) months. The charter commenced on January 13, 2018.

The m/v Phaidra was previously chartered to Jera Trading Singapore Pte. Ltd. at a gross charter rate of US$7,750 per day, minus a 5% commission paid to third parties, for the agreed period of the time charter.

The Phaidra is a 87,146 dwt Post-Panamax dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$4.57 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 8.40 years.

Source: Diana Shipping