Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced on Friday (Feb 19) that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Protefs.

Diana Shipping Signs Charter Agreement for Panamax Bulker with Transgrain

Image: Hartmut Ehlers

The gross charter rate is US$4,500 per day, minus a 5% commission paid to third parties, for a period of about twelve (12) months to maximum sixteen (16) months. The charter is expected to commence on February 22, 2016. The Protefs is a 73,630 dwt Panamax dry bulk vessel built in 2004.

This employment is anticipated to generate approximately US$1.55 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 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 7.48 years.

Source: Diana Shipping