Diana Shipping Inc. Announces Time Charter Contract With Cobelfret S.A.

Credit: Diana Shipping Inc.

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cobelfret S.A., Luxembourg, for one of its Kamsarmax dry bulk vessels, the m/v Myrto. 

Gross Charter Rate

The gross charter rate is US$12,650 per day, minus a 5% commission paid to third parties, for a period until minimum November 1, 2024 up to maximum January 15, 2025. The charter is expected to commence on July 15, 2023. The “Myrto” is an 82,131 dwt Kamsarmax dry bulk vessel built in 2013. The employment of “Myrto” is anticipated to generate approximately US$5.91 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels: 4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10 Ultramax (including a partial interest through a joint venture arrangement in one Ultramax). As of today, the combined carrying capacity of the Company’s fleet is approximately 4.7 million dwt with a weighted average age of 10.23 years. 

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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Source: Dianashippinginc


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