Diana Inks Time Charters with Koch

M/S Seattle Photo: Diana Shipping Inc.

By Aiswarya Lakshmi

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Seattle.

The gross charter rate is US$11,700 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to about seventeen (17) months.

The charter is expected to commence on February 6, 2017. The "Seattle" is a 179,362 dwt Capesize dry bulk vessel built in 2011.

This employment is anticipated to generate approximately US$4.91 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping's fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company's fleet is approximately 5.7 million dwt with a weighted average age of 7.67 years.

Jan 30, 2017

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