Diana Extends TC with BG Shipping

By Aiswarya Lakshmi February 5, 2018

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with BG Shipping Co., Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Selina.

The gross charter rate is US$12,250 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months. The new charter period is expected to commence tomorrow.

The m/v Selina is currently chartered, as previously announced, at a gross charter rate of US$7,100 per day, minus a 5% commission paid to third parties. The “Selina” is a 75,700 dwt Panamax dry bulk vessel built in 2010.

The employment extension of “Selina” is anticipated to generate approximately US$5.88 million of gross revenue for the minimum scheduled period of the time charter extension.

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 8.46 years.