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 SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Houston.

Diana Shipping signs time charter agreement for mv Houston with SwissMarine
Caption: Bulk carrier Houston - Image courtesy of Ed van Dort

The gross charter rate is US$19,000 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to about eleven (11) months. The charter is expected to commence on May 9, 2018.

The m/v Houston is currently chartered, as previously announced, at a gross charter rate of US$10,000 per day, minus a 5% commission paid to third parties.

The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.

This employment is anticipated to generate approximately US$4.85 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 8.71 years.

Source: Diana Shipping