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 Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore.
The gross charter rate is US$18,050 per day, minus a 5% commission paid to third parties, for a period of about twelve (12) months to about fourteen (14) months. The charter commenced earlier today. The m/v Baltimore was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$11,300 per day, minus a 4.75% commission paid to third parties.
The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.
This employment is anticipated to generate approximately US$6.23 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 8.79 years.
Source: Diana Shipping