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Diana Shipping Inc. announces time charter contracts with Koch and Cargill

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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 Capesize dry bulk vessels, the m/v Aliki. The gross charter rate is US$24 500/day, minus a 5% commission paid to third parties, for a period until minimum 1 February 2023 up to maximum 15 April 2023. The charter is expected to commence on 19 February 2022. The m/v Aliki is currently chartered, as previously announced, to Solebay Shipping Cape Company Ltd, Hong Kong, at a gross charter rate of US$20 500/day, minus a 5% commission paid to third parties.

The ‘Aliki’ is a 180 235 DWT capesize dry bulk vessel built in 2005.

The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its kamsarmax dry bulk vessels, ‘Magnolia’ (to be renamed ‘Leonidas P. C.’). The gross charter rate is US$24 500/day, minus a 4.75% commission paid to third parties, for a period until minimum 1 March 2023 up to maximum 30 April 2023. The charter is expected to commence upon delivery of the vessel to the company.

As previously announced on 16 July 2021, the m/v Leonidas P. C. is a 2011 built kamsarmax dry bulk vessel of 82 165 DWT that the company entered into an agreement to purchase in July 2021. The vessel is now expected to be delivered to the company by the sellers by mid-February 2022.

The employments of ‘Aliki’ and ‘Leonidas P. C.’ are anticipated to generate approximately US$17.49 million of gross revenue for the minimum scheduled period of the time charters.

Read the article online at: https://www.drybulkmagazine.com/shipping/14022022/diana-shipping-inc-announces-time-charter-contracts-with-koch-and-cargill/

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