Diana Time Charters m/v Seattle With SwissMarine

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  • Diana Shipping Inc. is chartering the m/v Seattle with SwissMarine Services S.A., Geneva.
  • The gross charter rate is US$16,000 per day, between minimum 16 months to maximum 19 months.
  • The charter commenced on December 25, 2018.
  • The 2011 built “Seattle” is anticipated to generate US$7.68 million of gross revenue post employment.

Diana Shipping Inc. has announced that, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Seattle, says a press release.

What is in the contract?

The global shipping company specializing in the ownership of dry bulk vessels, has signed the agreement through a separate wholly-owned subsidiary. The gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum sixteen (16) months to maximum nineteen (19) months. The charter was expected to commence on December 25, 2018.

What are expected returns?

The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011. This employment is anticipated to generate approximately US$7.68 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 9.10 years.

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Source: MarketWatch

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