Diana Shipping announces time charter contract for m/v San Francisco with Koch Shipping
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has entered through its separate wholly-owned subsidiary, into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v San Francisco, the Company said in a press release.
The gross charter rate is US$24,000 per day, minus a 5% commission paid to third parties, for a period of approximately ten (10) months to approximately twelve (12) months (approximately means +/-10 days). The charter is expected to commence on May 13, 2018. The m/v San Francisco is currently chartered, as previously announced, at a gross charter rate of US$11,750 per day, minus a 5% commission paid to third parties.
The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.
This employment is anticipated to generate approximately US$6.96 million of gross revenue for the minimum scheduled period of the time charter.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.71 years.
