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Diana Shipping sells Panamax dry bulk vessel

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Dry Bulk,


Diana Shipping Inc. has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel Alcyon, with delivery to the buyer latest by 7 January 2019, for a sale price of US$7.45 million before commissions.

The company, through a separate wholly-owned subsidiary, has also agreed to extend the present time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Oceanis. The gross charter rate is US$10 350/d, minus a 5% commission paid to third parties, for a period until minimum 1 January 2020 up to maximum 31 March 2020. The new charter period is expected to commence on 16 November 2018. The m/v Oceanis is currently chartered, as previously announced, at a gross charter rate of US$7000/d, minus a 5% commission paid to third parties.

The Oceanis is a 75 211 DWT Panamax dry bulk vessel built in 2001.

Additionally, the company, through a separate wholly-owned subsidiary, has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Clio. The gross charter rate is US$10 600/d, minus a 5% commission paid to third parties, for a period of minimum 10 months to maximum 13 months. The charter commenced on 10 November 2018. The m/v Clio was chartered, as previously announced, to Phaethon International Company AG, at a gross charter rate of US$8550/d, minus a 5% commission paid to third parties.

The Clio is a 73 691 DWT Panamax dry bulk vessel built in 2005.

The employment extension of Oceanis as well as the employment of Clio are anticipated to generate approximately US$7.37 million of gross revenue for the minimum scheduled period of the time charters.

Upon completion of the aforementioned sale and the previously announced sale of a Panamax dry bulk vessel, the m/v Triton, Diana Shipping Inc.’s fleet will consist of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of the company’s fleet, including the m/v Triton and m/v Alcyon, is approximately 5.8 million DWT with a weighted average age of 9.22 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/13112018/diana-shipping-sells-panamax-dry-bulk-vessel/

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Dry bulk shipping market Panamax news