Diana Shipping Announces Time Charter Contracts for Philadelphia

M/S Philadelphia. Photo:  Diana Shipping Inc

By Aiswarya Lakshmi

Diana Shipping 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 Newcastlemax dry bulk vessels, the m/v Philadelphia.

The gross charter rate is US$15,500 per day, minus a 5%
commission paid to third parties, for a period of minimum ten
(10) months to about thirteen (13) months. The charter is
expected to commence on March 14, 2017.

The "Philadelphia" is a 206,040 dwt Newcastlemax dry bulk vessel
built in 2012.

The global shipping company specializing in the ownership of dry
bulk vessels Company also announced that, through a separate
wholly-owned subsidiary, it has entered into a time charter
contract with Transgrain Shipping B.V., Rotterdam, for one of its
Panamax dry bulk vessels, the m/v Calipso.

The gross charter rate is US$9,000 per day, minus a 5% commission
paid to third parties, for a period of about eleven (11) months
to maximum fourteen (14) months. The charter is expected to
commence on March 14, 2017.

The "Calipso" is a 73,691 dwt Panamax dry bulk vessel built in
2005.

The employments of "Philadelphia" and "Calipso" are anticipated
to generate approximately US$7.49 million of gross revenue for
the minimum scheduled period of the time charters.

Diana Shipping Inc.'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 7.77 years.

Mar 8, 2017

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