Diana Shipping Inc. Announces Time Charter With Engelhart CTP

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Diana Shipping Inc. (NYSE: DSX), (the “Company”), through a separate wholly-owned subsidiary has entered into a time charter contract with Engelhart CTP Freight (Switzerland) SA, for one of its Capesize dry bulk vessels, the m/v New Orleans, says a press release published on their website.

Gross charter rate

The gross charter rate is US$32,000 per day, minus a 5% commission paid to third parties, for a period until minimum November 20, 2023 up to maximum January 31, 2024. The charter is expected to commence on March 25, 2022.

The m/v New Orleans is currently chartered, as previously announced, to Nippon Yusen Kabushiki Kaisha, at a gross charter rate of US$15,500 per day, minus a 5% commission paid to third parties.

The “New Orleans” is a 180,960 dwt Capesize dry bulk vessel built in 2015.

The employment of “New Orleans” is anticipated to generate approximately US$19.04 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet

Diana Shipping Inc.’s fleet currently consists of 34 dry bulk vessels:

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

The Company also expects to take delivery of one new-building Capesize dry bulk vessel by March 29, 2022. As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.57 years.

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Source: Diana Shipping

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