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Diana Shipping Inc. announces time charter contract for m/v Astarte

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Dry Bulk,

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 Tongli Shipping Pte. Ltd, for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The gross charter rate is US$21 500/d, minus a 5% commission paid to third parties, for a period until minimum 15 April 2023 up to maximum 15 June 2023. The charter is expected to commence on 31 January 2022.

The ‘Astarte’ is a 81 513 DWT Kamsarmax dry bulk vessel built in 2013.

The employment of ‘Astarte’ is anticipated to generate approximately US$9.35 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 33 dry bulk vessels (four Newcastlemax, 11 capesize, four post-panamax, five Kamsarmax and eight panamax).

The company also expects to take delivery of one Kamsarmax dry bulk vessel and one new-building capesize dry bulk vessel by the end of February 2022 and by the end of 1Q22, respectively.

As of 28 January 2022, the combined carrying capacity of the company’s fleet, excluding the two vessels not yet delivered, is approximately 4.3 million DWT with a weighted average age of 10.43 years.

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Dry bulk shipping market