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Diana Shipping announces time charter contract with Engelhart CTP

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has recently announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Engelhart CTP Freight (Switzerland) SA for one of its newcastlemax dry bulk vessels, the m/v Los Angeles.

The gross charter rate is US$14 250/d, minus a 5% commission paid to third parties, for a period until minimum 1 October 2021 up to maximum 31 December 2021. The charter commenced on 6 June 2020.

The m/v Los Angeles was chartered to SwissMarine Services S.A., Geneva, at a gross charter rate of US$13 250/d, minus a 5% commission paid to third parties.

The ‘Los Angeles’ is a 206 104 DWT newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$6.77 million of gross revenue for the minimum scheduled period of the time charter.

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Dry bulk shipping market