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Diana Shipping enters time charter contract for a SwissMarine capesize vessel

Published by , Assistant Editor
Dry Bulk,


Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, yesterday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$17 500/d, minus a 5% commission paid to third parties, for a period of about 8 months to about 9 months. The charter commenced earlier yesterday. The m/v P. S. Palios was chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$17 350/d, minus a 5% commission paid to third parties.

The P. S. Palios is a 179 134 DWT capesize dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$3.94 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 9.32 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/06062019/diana-shipping-enters-time-charter-contract-for-a-swissmarine-capesize-vessel/

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