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Diana Shipping announces three new time charter contracts

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Dry Bulk,


Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cobelfret S.A., for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite.

The gross charter rate is US$14 250/d, minus a 5% commission paid to third parties, for a period until minimum 1 December 2023 up to maximum 15 February 2024. The charter is expected to commence on 10 November 2022. The Amphitrite is a 98 697 dwt Post-Panamax dry bulk vessel built in 2012.

The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Reachy Shipping (SGP) Pte. Ltd., for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia. The Crystalia is a 77 525 dwt Ice Class Panamax dry bulk vessel built in 2014. The gross charter rate is US$12 500/d, minus a 5% commission paid to third parties, for a period until minimum 1 September 2023 up to maximum 15 October 2023. The charter is expected to commence on 8 November 2022.

In addition, the company announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ASL Bulk Marine Ltd, for one of its Ultramax dry bulk vessels, the m/v DSI Phoenix. The DSI Phoenix is a 60 456 dwt Ultramax dry bulk vessel built in 2017. The gross charter rate is US$13 250/d, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 18 months. The charter commenced on 4 November 2022.

The employments of Amphitrite, Crystalia, and DSI Phoenix are anticipated to generate approximately US$15.45 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 37 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax, and 3 Ultramax). The company also expects to take delivery of 6 Ultramax dry bulk vessels in 4Q22. As of 7 November, the combined carrying capacity of the company’s fleet, excluding the 6 Ultramax dry bulk vessels not yet delivered, was approximately 4.6 million dwt with a weighted average age of 10.3 years.

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/14112022/diana-shipping-announces-three-new-time-charter-contracts/

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