Diana Shipping Signs Charter Contracts for MV Santa Barbara with Cargill and MV Salt Lake City with Uniper

By Vessels

Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, yesterday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$12,000 per day, minus a 4.75% commission paid to third parties, for a period of about twelve (12) months to maximum fifteen (15) months. The charter is expected to commence on January 24, 2017.

The Santa Barbara is a 179,426 dwt Capesize dry bulk vessel built in 2015.

Bulk Carrier Santa Barbara - Image courtesy: Diana Shipping

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Capesize dry bulk vessels, the m/v Salt Lake City. The gross charter rate is US$9,000 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum sixteen (16) months. The charter is expected to commence on January 20, 2017.

Bulk Carrier Salt Lake City - Image courtesy: Marcel Coster

The Salt Lake City is a 171,810 dwt Capesize dry bulk vessel built in 2005.

The employments of Santa Barbara and Salt Lake City are anticipated to generate approximately US$7.38 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.64 years.

Source: Diana Shipping