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Diana Shipping provides updates on panamax time charter contracts

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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 agreed to extend the present time charter contract with Hudson Shipping Lines Incorporated for one of its panamax dry bulk vessels, the m/v Protefs.

The gross charter rate is US$11 000/d, minus a 3.75% commission paid to third parties, for a period of about 12 months to maximum 15 months. The new charter period will commence on 19 September 2018. The m/v Protefs is currently chartered, as previously announced, at a gross charter rate of US$7900/d, minus a 5% commission paid to third parties.

The Protefs is a 73 630 dwt panamax dry bulk vessel built in 2004.

The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated for one of its panamax dry bulk vessels, the m/v Nirefs.

The gross charter rate is US$10 750/d, minus a 3.75% commission paid to third parties, for a period of minimum 11 months to maximum 14 months. The charter commenced on 11 August 2018. The m/v Nirefs was chartered, as previously announced, to Jaldhi Overseas Pte. Ltd., Singapore, at a gross charter rate of US$9400/d, minus a 5% commission paid to third parties.

The Nirefs is a 75 311 dwt panamax dry bulk vessel built in 2001.

The employment extension of Protefs, as well as the employment of Nirefs, are anticipated to generate approximately US$7.34 million of gross revenue for the minimum scheduled periods of the time charters.

Read the article online at: https://www.drybulkmagazine.com/shipping/14082018/diana-shipping-provides-updates-on-panamax-time-charter-contracts/

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