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 Capesize dry bulk vessels, the m/v Houston.

Diana Shipping Announces Time Charter Contract for mv Houston with Koch
Caption: Bulk carrier Houston - Image courtesy of Roeland.J

The gross charter rate is US$27,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 15, 2022 up to maximum October 15, 2022. The charter commenced retroactively on August 30, 2021. The m/v Houston was chartered, as previously announced, to C Transport Maritime Ltd., Bermuda, at a gross charter rate of US$6,250 per day for the first thirty (30) days of the charter period and US$12,400 per day for the balance of the time charter, in each case minus a 5% commission paid to third parties.

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

The employment of “Houston” is anticipated to generate approximately US$8.51 million of gross revenue for the minimum scheduled period of the time charter. 

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel by the end of February 2022. As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.6 million dwt with a weighted average age of 10.48 years.