Diana Shipping Announces Direct Continuation of Time Charter Contract for mv Houston with SwissMarine

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 agreed to extend the present time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Houston, for a period of about thirteen (13) months to maximum fifteen (15) months. The gross charter rate is US$5,150 per day for the first fifteen (15) days of the charter period and US$10,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The new charter period is expected to commence tomorrow.

Diana Shipping Announces Direct Continuation of Time Charter Contract for mv Houston with SwissMarine

Bulk Carrier Houston - Image courtesy of Ed van Dort

The Houston is a 177,729 dwt Capesize dry bulk vessel built in 2009.

The employment extension of “Houston” is anticipated to generate approximately US$3.68 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 7.71 years.

Source: Diana Shipping