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Diana Shipping extends contract with BG Shipping

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Dry Bulk,

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with BG Shipping Co., Ltd, Hong Kong, for one of its Panamax dry bulk vessels, the Selina.

The gross charter rate is US$12 250 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months. The new charter period commenced on 6 February. The Selina is currently chartered, as previously announced, at a gross charter rate of US$7100 per day, minus a 5% commission paid to third parties.

The Selina is a 75 700 DWT Panamax dry bulk vessel built in 2010.

The employment extension of the Selina is anticipated to generate approximately US$5.88 million of gross revenue for the minimum scheduled period of the time charter extension.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 8.46 years.

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Dry cargo shipping news Panamax news