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Diana Shipping to add another Capesize vessel to fleet

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Dry Bulk,

Through a separate wholly-owned subsidiary, Diana Shipping, a global shipping company specialising in the ownership of dry bulk vessels, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels: the m/v New Orleans.

According to Diana Shipping, the gross charter rate is US$21 000/day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 13 months. The charter is expected to commence on 25 March 2018. The m/v New Orleans is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$11 250/day, minus a 5% commission paid to third parties.

The New Orleans is a 180 960 DWT Capesize dry bulk vessel built in 2015.

This addition is anticipated to generate approximately US$6.93 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 the New Orleans, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 8.58 years. 

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