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Wednesday, October 18, 2017

Newcastlemax Duo Joins Diana Shipping’s Fleet

January 4, 2017

M/v San Francisco. Photo: Diana Shipping Inc

M/v San Francisco. Photo: Diana Shipping Inc

 Diana Shipping has taken delivery of the m/v San Francisco (formerly Hull No. H2548)  and the m/v Newport News (formerly Hull No. H2549), two new building Newcastlemax dry bulk vessels that were contracted in May 2013.

The m/v San Francisco has been time chartered to Koch Shipping Pte. Ltd. at a rate of $11,750 per day, for a period of minimum twelve (12) months to about sixteen (16) months. The charter is expected to commence on January 6, 2017. The employment is expected to generate approximate $4.2 million in gross revenues.
The m/v Newport News has been time chartered to SwissMarine Services with employment expected to commence on Jan. 9, for a period of minimum twenty-two (22) months to maximum twenty-six (26) months. 
The company also said that it has completed a drawdown of $57.2 million from its previously announced term loan facility with the Export-Import Bank of China to partially finance the acquisition of the vessels.
Including the “San Francisco” and the “Newport News”, Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.6 years.
Diana Shipping Inc.Pte Ltd.The Export-Import Bank of China