Diana Shipping To Go For Charter Contracts

1926

Diana Shipping

Diana Shipping Inc. has entered into a time charter contract with Swiss Marine Services S.A., Geneva, for a Capesize dry bulk vessels.  The gross charter rate is US$11,650 per day minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to about fifteen (15) months.  The charter is expected to commence upon delivery of the vessel to the Company.

The m/v New Orleans is a Capesize dry bulk vessel of approximately 180,000 dwt currently under construction.  The vessel is now expected to be delivered to the Company by the sellers at the beginning of November 2015.

Additionally, the company entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Melia.  The gross charter rate is US$7,200 per day minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to maximum sixteen (16) months.  The charter is expected to commence by the end of October, 2015.

The “Melia” is a 76,225 dwt Panamax dry bulk vessel built in 2005.

The employments of “New Orleans” and “Melia” are anticipated to generate approximately US$6.65 million of gross revenue for the minimum scheduled period of the time charters.

The “New Orleans”, the  Newcastlemax, the Kamsarmax  and  Newcastlemax (all dry bulk vessels) expected to be delivered to the Company during the third quarter of 2016 will fetch  approximately 4.7 million dwt with a weighted average age of 7.53 years.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax).

Source: Diana Shipping Inc

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