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Diana Shipping Inc. enters time charter contract for another panamax

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Dry Bulk,

Through a separate wholly-owned subsidiary, global dry bulk shipping company Diana Shipping Inc. (Diana Shipping), has entered into a time charter contract with Ausca Shipping HK Ltd, for one of its panamax dry bulk vessels, the m/v Artemis. The gross charter rate is US$12 600 per day, minus a 5% commission paid to third parties, for a period of 12 – 15 months.

According to Diana Shipping, the charter is expected to commence on 18 September 2018. The m/v Artemis is currently chartered, as previously announced, at a gross charter rate of US$9000/d, minus a 5% commission paid to third parties.

The “Artemis” is a 76 942 DWT panamax dry bulk vessel built in 2006.

This addition is anticipated to generate approximately US$4.54 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 22 panamax). With this new addition, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 9.07 years. 

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