Diana Shipping announces direct continuation of time charter contract for mv G. P. Zafirakis with RWE

By Vessels

Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, Thursday announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis.

Diana Shipping announces direct continuation of time charter contract for mv G. P. Zafirakis with RWE
Caption: Bulk carrier G.P. Zafirakis - Image courtesy of Ed Cooke

The gross charter rate is US$15,000 per day, minus a 5% commission paid to third parties, for a period of about fourteen (14) months to maximum seventeen (17) months. The new charter period will commence on August 14, 2017. The m/v G. P. Zafirakis is currently chartered, as previously announced, at a gross charter rate of US$6,500 per day, minus a 5% commission paid to third parties.

The “G. P. Zafirakis” is a 179,492 dwt Capesize dry bulk vessel built in 2014.

The employment extension of “G. P. Zafirakis” is anticipated to generate approximately US$6.08 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.9 million dwt with a weighted average age of 8.01 years.

Source: Diana Shipping