Diana Shipping announces time charter contract for m/v Crystalia with SwissMarine

By Vessels

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, through a separate wholly-owned subsidiary, it entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia.

The gross charter rate is US$6,250 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months.

The Crystalia is a 77,525 dwt Ice Class Panamax dry bulk vessel built in 2014.

Diana Shipping announces time charter contract for m/v Crystalia with SwissMarine

This employment is anticipated to generate approximately US$2.06 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 46 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 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 5.2 million dwt with a weighted average age of 7.66 years.

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Source: Diana Shipping