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Diana Shipping Inc. announces time charter contract

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Dry Bulk,


Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Tongli Shipping Pte. Ltd, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$16 500/d, minus a 5% commission paid to third parties, for a period until minimum 15 October 2021 up to maximum 15 December 2021. The charter is expected to commence on 7 March 2021.

The m/v Ismene was chartered, as previously announced, to Phaethon International Company AG, at a gross charter rate of US$10 800/d, minus a 5% commission paid to third parties.

The Ismene is a 77 901 DWT Panamax dry bulk vessel built in 2013.

The employment of Ismene is anticipated to generate approximately US$3.60 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Oceanis, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (four Newcastlemax, 12 Capesize, five Post-Panamax, five Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Oceanis, is approximately 4.8 million DWT with a weighted average age of 10.18 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/01032021/diana-shipping-inc-announces-time-charter-contract/

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