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Diana Shipping enters time charter contract with Koch Shipping

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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 Koch Shipping Pte. Ltd, Singapore, for one of its Newcastlemax dry bulk vessels, the m/v Newport News.

The gross charter rate is US$18 400/d, minus a 5% commission paid to third parties, for a period until minimum 16 October 2021 up to maximum 30 December 2021. The charter is expected to have commenced this week. The m/v Newport News is currently chartered, as previously announced, to SwissMarine Services S.A., Geneva, at a gross charter rate of US$16 500/d, minus a 5% commission paid to third parties.

The Newport News is a 208 021 DWT Newcastlemax dry bulk vessel built in 2017.

This employment is anticipated to generate approximately US$7.3 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (four Newcastlemax, 13 Capesize, five Post-Panamax, five Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.0 million DWT with a weighted average age of 9.92 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/09092020/diana-shipping-enters-time-charter-contract-with-koch-shipping/

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