Diana Shipping Announces Direct Continuation of Time Charter Contract

Source: www.gulfoilandgas.com 12/17/2020, Location: Asia

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, 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 Baltimore. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 20, 2021 up to maximum October 5, 2021. The new charter period is expected to commence on December 20, 2020.

The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$2.73 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 12 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis and the m/v Sideris GS is approximately 5.0 million dwt with a weighted average age of 10.20 years.


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