- Diana Shipping signs agreement to sell Alcyon by January 7, 2019 at US$7.45 million.
- The new time charter rate is US$8,550 per day with m/v Clio.
- The US$7,000 per day m/v Oceanis time charter with Ausca will be extended from November 16, 2018.
- M/V Clio will be chartering US$10,600 per day for the next 10-13 months from November 10, 2018.
- The new developments are set to generate a revenue of US$7.37 million.
After announcing the sale of its vessel Triton 5 days ago, Diana Shipping Inc., a company specializing in the ownership of dry bulk vessels, announced yesterday that it has signed, to sell the 2001-built vessel “Alcyon”, says a press release by the company.
What is in the agreement?
The company plans to sell the vessel through a separate wholly-owned subsidiary with delivery to the buyer latest by January 7, 2019. A Memorandum of Agreement has been signed for a sale price of US$7.45 million before commissions to an unaffiliated third party.
Panamax M/V Oceania Charter
The Company also announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Oceanis. The gross charter rate is US$10,350 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2020, up to maximum March 31, 2020. The new charter period is expected to commence on November 16, 2018. The m/v Oceanis is currently chartered, as previously announced, at a gross charter rate of US$7,000 per day, minus a 5% commission paid to third parties.
The “Oceanis” is a 75,211 dwt Panamax dry bulk vessel built in 2001.
M/V Clio Charter
Similarly, the wholly-owned subsidiary has enabled it to enter into another time charter contract with Ausca Shipping Limited, Hong Kong, for another Panamax dry bulk vessels, the m/v Clio. The gross charter rate for m/v Clio is US$10,600 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum thirteen (13) months. The charter commenced on November 10, 2018. The m/v Clio was chartered, as previously announced, to Phaethon International Company AG, at a gross charter rate of US$8,550 per day, minus a 5% commission paid to third parties.
The “Clio” is a 73,691 dwt Panamax dry bulk vessel built in 2005.
What are the profits?
The employment extension of “Oceanis” as well as the employment of “Clio” are anticipated to generate approximately US$7.37 million of gross revenue for the minimum scheduled period of the time charters.
Upon completion of the aforementioned sale and the previously announced sale of a Panamax dry bulk vessel, the m/v Triton, Diana Shipping Inc.’s fleet will consist 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, including the m/v Triton and m/v Alcyon, is approximately 5.8 million dwt with a weighted average age of 9.22 years.
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Source: Diana Shipping Inc
