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 Newcastlemax dry bulk vessels, the m/v San Francisco.
The gross charter rate is US$24,000 per day, minus a 5% commission paid to third parties, for a period of approximately ten (10) months to approximately twelve (12) months (approximately means +/-10 days).
The charter is expected to commence on May 13, 2018. The m/v San Francisco is currently chartered, as previously announced, at a gross charter rate of US$11,750 per day, minus a 5% commission paid to third parties.
The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.
This employment is anticipated to generate approximately US$6.96 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