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 P. S. Palios. The gross charter rate is US$17 350/d, minus a 5% commission paid to third parties, for a period of about 13 months to maximum 15 months. The charter is expected to commence on 24 May 2018. The m/v P. S. Palios is currently chartered at a gross charter rate of US$10 550/d, minus a 5% commission paid to third parties.
The P. S. Palios, which was built in 2013 is a 179 134 DWT capesize dry bulk vessel.
This employment is anticipated to generate approximately US$6.51 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 addition, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 8.75 years.
Read the article online at: https://www.drybulkmagazine.com/shipping/23052018/diana-shipping-enters-time-charter-contract-with-koch-shipping-for-capesize-vessel/