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Diana Shipping Inc. enters time charter contracts with Olam and Solebay

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Dry Bulk,


Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has announced that it has entered time charter contracts for its San Francisco and Aliki dry bulk vessels.

Through a separate wholly-owned subsidiary, Diana Shipping Inc. has entered into a time charter contract with Olam International Limited, Singapore, for one of its Newcastlemax dry bulk vessels, the m/v San Francisco, for a period until minimum 15 January 2022 up to maximum 15 March 2022. The gross charter rate is US$17 750/d for the first 105 days of the charter period and US$24 700/d for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter commenced retroactively on 11 February 2021. The m/v San Francisco was chartered to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$16 000/d, minus a 5% commission paid to third parties.

The San Francisco is a 208 006 DWT Newcastlemax dry bulk vessel built in 2017.

The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Solebay Shipping Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Aliki. The gross charter rate is US$20 500/d, minus a 5% commission paid to third parties, for a period until minimum 15 January 2022 up to maximum 15 March 2022. The charter is expected to commence on 19 March 2021. The m/v Aliki is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$11 300/d, minus a 5% commission paid to third parties.

The Aliki is a 180 235 DWT Capesize dry bulk vessel built in 2005.

The employments of San Francisco and Aliki are anticipated to generate approximately US$13.56 million of gross revenue for the minimum scheduled period of the time charters.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Oceanis, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (four Newcastlemax, 12 Capesize, five Post-Panamax, five Kamsarmax and 11 Panamax). As of 11 March 2021, the combined carrying capacity of the company’s fleet, including the m/v Oceanis, is approximately 4.8 million DWT with a weighted average age of 10.21 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/12032021/diana-shipping-inc-enters-time-charter-contracts-with-olam-and-solebay/

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