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Diana Shipping Inc. enters time charter contract with Koch for newcastlemax vessel

Published by , Assistant Editor
Dry Bulk,

Global shipping company specialising in the ownership of dry bulk vessels, Diana Shipping Inc., has entered into a time charter contract through a separate wholly-owned subsidiary with Koch Shipping Pte. Ltd., Singapore, for one of its newcastlemax dry bulk vessels, the m/v San Francisco.


According to the company, the gross charter rate is US$24 000/day, minus a 5% commission paid to third parties, for a period of approximately 10 months to approximately 12 months (approximately means +/-10 days). The charter is expected to commence on 13 May 2018. The m/v San Francisco is currently chartered, as previously announced, at a gross charter rate of US$11 750/day, minus a 5% commission paid to third parties.

The San Francisco is a 208 006 DWT Newcastlemax dry bulk vessel built in 2017.

This employment is anticipated to generate approximately US$6.96 million of gross revenue for the minimum scheduled period of the time charter.


Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 22 panamax).


With this new addition, the combined carrying capacity of the company’s fleet will be approximately 5.8 million DWT with a weighted average age of 8.71 years.

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