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Diana Shipping enters time charter contract with Ausca

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Dry Bulk,


Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Ltd (Hong Kong), for one of its panamax dry bulk vessels, the m/v Arethusa. The gross charter rate is US$9150/d, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter was expected to commence yesterday.

The ‘Arethusa’ is a 73 593 DWT panamax dry bulk vessel built in 2007.

This employment is anticipated to generate approximately US$3.29 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 Erato, Diana Shipping Inc.’s fleet will consist of 45 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 17 panamax). As of yesterday, the combined carrying capacity of the company’s fleet, including the m/v Erato, is approximately 5.5 million DWT with a weighted average age of 9.23 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/03052019/diana-shipping-enters-time-charter-contract-with-ausca/

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