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Diana Shipping signs time charter contract with Koch Shipping for newcastlemax

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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 Koch Shipping Pte. Ltd., (Singapore), for one of its newcastlemax dry bulk vessels, the m/v San Francisco. The gross charter rate is US$16 000/d, minus a 5% commission paid to third parties, for a period of minimum 19 months to about 22 months. The charter commenced earlier today.

The “San Francisco” is a 208 006 DWT newcastlemax dry bulk vessel built in 2017.

This employment is anticipated to generate approximately US$9.12 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of two panamax dry bulk vessels, m/v Danae and m/v Dione, Diana Shipping Inc.’s fleet will consist of 46 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 18 panamax). With this addition, the combined carrying capacity of the company’s fleet, including the m/v Danae and m/v Dione, is approximately 5.7 million DWT with a weighted average age of 9.31 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/07032019/diana-shipping-signs-time-charter-contract-with-koch-shipping-for-newcastlemax/

 

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