Diana Shipping Fixes Two Dry Bulkers with SwissMarine

February 25, 2019

Diana Shipping has announced time charter contracts for m/v Newport News and m/v Los Angeles with SwissMarine.

The global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Newport News.

The gross charter rate is US$16,500 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months.  

The “Newport News” is a 208,021 dwt Newcastlemax dry bulk vessel built in 2017.

The provider of shipping transportation services through its ownership of dry bulk vessels also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles.

The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum 15 months to maximum 18 months

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

The employments of “Newport News” and “Los Angeles” are anticipated to generate approximately US$13.88 million of gross revenue for the minimum scheduled period of the time charters.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, m/v Danae and m/v Dione, Diana Shipping Inc.’s fleet will consist of 46 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 18 Panamax).

As of today, the combined carrying capacity of the Company’s fleet, including the m/v Danae and m/v Dione, is approximately 5.7 million dwt with a weighted average age of 9.29 years.

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