Diana Shipping Signs TC Contract for m/v Baltimore with Koch

Aiswarya Lakshmi June 6, 2018

Diana Shipping through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping, Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore.

The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$18,050 per day, minus a 5% commission paid to third parties, for a period of about 12 months to about 14 months.

The charter commenced earlier today. The m/v Baltimore was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$11,300 per day, minus a 4.75% commission paid to third parties.

The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$6.23 million of gross revenue for the minimum scheduled period of the time charter.

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 8.79 years .