Diana Shipping Fixes Newcastlemax to Bohai Ocean Shipping

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Greek bulker owner Diana Shipping has entered into a time charter contract with Bohai Ocean Shipping for one of its newcastlemax vessels, reads an official press release.

Time Charter Contract

The company hired the 2017-built, 208,021 dwt bulker Newport News. The gross charter rate is $25,000 per day, minus a 5% commission paid to third parties, for a period until a minimum of September 1, 2026, up to a maximum of October 31, 2026.

The day rate during the new deal will be higher than the vessels’ current deal with NYK, which stands at $20,000 per day, minus a 5% commission paid to third parties.

The charter is expected to begin on June 14, 2025. The employment of the bulker is anticipated to generate approximately $10.95m of gross revenue for the minimum scheduled period of the time charter.

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Source: Diana Shipping Inc.