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Diana Shipping Inc. enters into time charter contract

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Dry Bulk,


Diana Shipping Inc., a global shipping company specialising in the owner-ship of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CLdN Cobelfret SA, Luxembourg, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$12 100/d, minus a 5% commission paid to third parties, for a period until minimum 15 October 2021 up to maximum 25 December 2021. The charter commenced on 22 November 2020. The m/v Polymnia was chartered, as previously an-nounced, to Cargill International S.A., Geneva, at a gross charter rate of US$11 000/d, minus a 4.75% commission paid to third parties.

This employment is anticipated to generate approximately US$3.91 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels (four Newcastlemax, 12 Capesize, five Post-Panamax, 5 Kamsarmax and 12 Panamax). As of today, the combined carrying capacity of the Compa-ny’s fleet, including the m/v Coronis and the m/v Sideris GS is approximately 5 million DWT with a weighted average age of 10.14 years.

Read the article online at: https://www.drybulkmagazine.com/shipping/30112020/diana-shipping-inc-enters-into-time-charter-contract/

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Dry bulk shipping market