Diana Shipping Inc. Announces New Time Charter Contract


Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles, says a press release published on their website.

Gross charter rate

The gross charter rate is US$26,250 per day, minus a 5% commission paid to third parties, for a period until minimum January 15, 2023 up to maximum March 15, 2023.

The charter commenced retroactively as of January 30, 2022. The m/v Los Angeles was chartered, as previously announced, to Engelhart CTP Freight (Switzerland) SA, at a gross charter rate of US$14,250 per day, minus a 5% commission paid to third parties.

About the vessel

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

The employment of “Los Angeles” is anticipated to generate approximately US$9.06 million of gross revenue for the minimum scheduled period of the time charter.

Diana’s fleet

Diana Shipping Inc.’s fleet currently consists of 33 dry bulk vessels

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

Expected delivery

The Company also expects to take delivery of one Kamsarmax dry bulk vessel and one new-building Capesize dry bulk vessel by the end of February 2022 and by the end of the first quarter of 2022, respectively.

As of today, the combined carrying capacity of the Company’s fleet, excluding the two vessels not yet delivered, is approximately 4.3 million dwt with a weighted average age of 10.44 years.

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Source: Diana Shipping


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