Diana Shipping Announces Time Charter Contract for m/v Philadelphia with RWE

By Vessels

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced on Jan 21 that, through a separate wholly-owned subsidiary, it entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia.

Diana Shipping Announces Time Charter Contract for m/v Philadelphia with RWE

Image: Diana Shipping Inc.

The gross charter rate is US$6,450 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months. The charter commenced yesterday.

The Philadelphia is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$2.13 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one new-building Newcastlemax dry bulk vessel during the third quarter of 2016 as well as one new-building Newcastlemax dry bulk vessel and one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the three vessels not yet delivered, is approximately 5.0 million dwt with a weighted average age of 7.4 years.

Source: Diana Shipping