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Friday, October 18, 2019

Maritime Logistics Professional

June 7, 2017

Diana Addendum to Time Charter with Rio Tinto

Sideris GS. Photo: Diana Shipping Inc.

Sideris GS. Photo: Diana Shipping Inc.

 Diana Shipping, through a separate wholly-owned subsidiary, has agreed to extend and increase the time charter rate of the present time charter contract with Singapore-based Rio Tinto Shipping (Asia) for one of its Capesize dry bulk vessels, the m/v Sideris GS.

 
The global shipping company specializing in the ownership of dry bulk vessels added that the contract is for a period of minimum 13 months to maximum 17 months.
 
 The new gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on June 20, 2017. 
 
The m/v Sideris GS is currently chartered, as previously announced, at a gross charter rate of US$6,500 per day, minus a 5% commission paid to third parties.
 
The “Sideris GS” is a 174,186 dwt Capesize dry bulk vessel built in 2006.
 
The employment extension of “Sideris GS” is anticipated to generate approximately US$5.07 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.9 million dwt with a weighted average age of 7.85 years.
 
Diana Shipping Inc.Singaporewholly-owned subsidiary