Diana Shipping Announces Time Charter With Koch

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Diana Shipping Inc. announces time charter contract for m/v Newport News with Koch, says a press release published on their website.

Time charter contract

Diana Shipping Inc. has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v Newport News. 

Charter rate

  • The gross charter rate is US$18,400 per day, minus a 5% commission paid to third parties.
  • The charter period is until minimum 16 October 2021 up to maximum 30 December 2021.

The charter is expected to commence later today. 

  • The m/v Newport News is currently chartered, as previously announced, to SwissMarine Services S.A., Geneva.
  • Gross charter rate of US$16,500 per day, minus a 5% commission is paid to third parties.

The “Newport News” is a 208,021 dwt Newcastlemax dry bulk vessel built in 2017.

Gross revenue

This employment is anticipated to generate approximately US$7.3 million of gross revenue for the minimum scheduled period of the time charter.

Diana’s fleet

Diana Shipping Inc. ’s fleet currently consists of 40 dry bulk vessels :

  • 4 Newcastlemax,
  • 13 Capesize,
  • 5 Post-Panamax,
  • 5 Kamsarmax and
  • 13 Panamax.

As of today, the combined carrying capacity of the Company’s fleet is approximately 5.0 million dwt with a weighted average age of 9.92 years.

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Source: Diana Shipping

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