Diana Shipping Announces Time Charter Contract With SwissMarine

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  • Diana shipping has entered a charter contract with SwissMarine.
  • The gross charter rate is fixed at US$17,000 per day for a minimum period of 17 months.
  • The employment is anticipated to generate approximately US$8.67 million of gross revenue for a scheduled period of time.

On December 28, Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine.

Time charter contract

The global shipping company specializing in the ownership of dry bulk vessels has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v ‘G.P.Zafirakis’ built in 2014.

The gross charter rate is US$17,000 per day, minus a 5% commission paid to third parties, for a period of minimum seventeen months to maximum twenty months. The charter is expected to commence on January 2, 2019. The dry bulk is currently chartered, as previously announced, to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of US$15,000 per day, minus a 5% commission paid to third parties.

This employment is anticipated to generate approximately US$8.67 million of gross revenue for the minimum scheduled period of the time charter.

About the company

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax, and 20 Panamax). Currently, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 9.12 years.

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Source: Nasdaq

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