Diana Shipping finds work for two Capesize and one Panamax bulk vessels

By Vessels

Diana Shipping , a global shipping company specializing in the ownership of dry bulk vessels, announced on Friday (Feb 5), through a separate wholly-owned subsidiary, it agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis, for a period of minimum fifteen (15) months to maximum eighteen (18) months. The gross charter rate is US$6,500 per day minus a 5% commission paid to third parties. The new charter period is expected to commence on February 14, 2016.

The G. P. Zafirakis is a 179,492 dwt Capesize dry bulk vessel built in 2014.

G. P. ZAFIRAKIS - IMO 9671931

Image: Ed Cooke

The Company also announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Rio Tinto Shipping (Asia) Pte., Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$5,200 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to about fifteen (15) months. The charter commenced on February 3, 2016.

The New York is a 177,773 dwt Capesize dry bulk vessel built in 2010.
Diana Shipping finds work for two Capesize and one Panamax bulk vessels

Image: Diana Shipping

In addition, the Company announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Dione. The gross charter rate is US$4,350 per day, minus a 5% commission paid to third parties, for a period of about twelve (12) months to maximum fifteen (15) months. The charter commenced yesterday.

The Dione is a 75,172 dwt Panamax dry bulk vessel built in 2001.

Image: Diana Shipping

The employment extension of G. P. Zafirakis and the employments of New York and Dione are anticipated to generate approximately US$6.14 million of gross revenue for the minimum scheduled period of the time charters.

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 three Panamax dry bulk vessels by the end of March 2016, 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 six vessels not yet delivered, is approximately 5.0 million dwt with a weighted average age of 7.45 years.

Source: Diana Shipping