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Diana Shipping announces charter extension and fleet addition

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Dry Bulk,


Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with CLdN Cobelfret SA, Luxembourg, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia.

The gross charter rate is US$10 000/d for the first 30 days of the charter period, and US$15 000/d for the balance period of the time charter – in each case minus a 5% commission paid to third parties, for a period until minimum 1 April 2024 up to maximum 31 May 2024. The new charter period commenced on 14 January 2023.

The Polymnia is a 98 704 dwt Post-Panamax dry bulk vessel built in 2012.

The company has also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$17 700/d – minus a 5% commission paid to third parties, for a period until minimum 20 May 2024, up to maximum 5 August 2024. The charter commenced on 15 January 2023.

The Los Angeles is a 206 104 dwt Newcastlemax dry bulk vessel built in 2012.

The employment extension of the Polymnia as well as the employment of the Los Angeles are anticipated to generate approximately US$15.02 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax, and 8 Ultramax). The company also expects to take delivery of 1 Ultramax dry bulk vessel by the end of January of 2023. The combined carrying capacity of the company’s fleet, excluding the 1 Ultramax dry bulk vessel not yet delivered, is approximately 4.9 million dwt with a weighted average age of 10.25 years.

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/25012023/diana-shipping-announces-charter-extension-and-fleet-addition/

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