Diana Shipping Signs Charter Contract for mv Seattle with Koch

By Vessels

Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, Monday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Seattle.

Diana Shipping Signs Charter Contract for mv Seattle with Koch

Bulk carrier Seattle - Image courtesy of Diana Shipping

The gross charter rate is US$11,700 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to about seventeen (17) months. The charter is expected to commence on February 6, 2017.

The Seattle is a 179,362 dwt Capesize dry bulk vessel built in 2011.

This employment is anticipated to generate approximately US$4.91 million of gross revenue for the minimum scheduled period of the time charter.

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 7.67 years.

Source: Diana Shipping