Diana Announces Time Charter Contract for m/v Danae With Phaethon

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  • Diana Shipping Inc. time chartered the m/v Danae a Panamax vessel on February 5th, 2019.
  • The time charter contract is with Phaethon International Company AG.
  • The gross charter rate is US$8,100 per day, for a period between 11-14 months.
  • This employment is anticipated to generate approximately US$2.67 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc. announced on 5th February that, through a separate wholly-owned subsidiary has time chartered one of its Panamax dry bulk vessels, the m/v Danae, says a press release published in Nasdaq.

Contract Details

The global shipping company specializing in the ownership of dry bulk vessels has entered into this time charter contract with Phaethon International Company AG. The gross charter rate is US$8,100 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months. The charter commenced later during the day. The “Danae” is a 75,106 dwt Panamax dry bulk vessel built in 2001.

Revenue Expectations

This employment is anticipated to generate approximately US$2.67 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax, and 20 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 9.23 years.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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Source: Nasdaq

 

 

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