Diana Shipping Inc. Announces Time Charter Contracts For M/V DSI Aquila

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Credits: Venti Views/ Unsplash

Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Western Bulk Carriers AS, for one of its Ultramax dry bulk vessels, the m/v DSI Aquila, says an article published on their website.

Gross charter rate

The gross charter rate is US$13,300 per day, minus a 5% commission paid to third parties, for a period until minimum September 15, 2023 up to maximum November 15, 2023. The charter is expected to commence on November 22, 2022.

The “DSI Aquila” is a 60,309 dwt Ultramax dry bulk vessel built in 2015.

Wholly-owned subsidiary

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with EGPN Bulk Carrier Co., Limited, for one of its Capesize dry bulk vessels, the m/v Houston.

Commission paid

The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 1, 2024 up to maximum August 31, 2024. The charter is expected to commence on November 21, 2022.

Scheduled period

The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.

The employments of “DSI Aquila” and “Houston” are anticipated to generate approximately US$11.44 million of gross revenue for the minimum scheduled period of the time charters.

Weighted average age

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 6 Ultramax).

The Company also expects to take delivery of 3 Ultramax dry bulk vessels in the fourth quarter of 2022. As the combined carrying capacity of our fleet, excluding the 3 Ultramax dry bulk vessels not yet delivered, is approximately 4.7 million dwt with a weighted average age of 10.17 years.

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Source: Diana Shipping

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