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Diana Shipping enters time charter contract with Koch Shipping

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Dry Bulk,


Diana Shipping Inc. 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 Newcastlemax dry bulk vessels, the m/v Philadelphia.

The gross charter rate is US$20 000/d, minus a 5% commission paid to third parties, for a period of about 20 months to maximum 23 months. The charter commenced on 18 June 2018. The m/v Philadelphia was chartered, as previously announced, at a gross charter rate of US$15 500/d, minus a 5% commission paid to third parties.

The Philadelphia is a 206 040 DWT Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$11.7 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). As of 21 June, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 8.83 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/25062018/diana-shipping-enters-time-charter-contract-with-koch-shipping/

 

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Dry bulk shipping market