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Diana Shipping announces charter contracts

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, “Hull No. H1364” (to be named “New Orleans”). The gross charter rate is US$11,650 per day minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to about fifteen (15) months. The charter is expected to commence upon delivery of the vessel to the Company.

As previously announced on April 28, 2015, the m/v New Orleans is a Capesize dry bulk vessel of approximately 180,000 dwt currently under construction. The vessel is now expected to be delivered to the Company by the sellers at the beginning of November 2015.

Additionally, the Company announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Melia. The gross charter rate is US$7,200 per day minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to maximum sixteen (16) months. The charter is expected to commence by the end of October, 2015.

The “Melia” is a 76,225 dwt Panamax dry bulk vessel built in 2005.

The employments of “New Orleans” and “Melia” are anticipated to generate approximately US$6.65 million of gross revenue for the minimum scheduled period of the time charters.

Excluding the “New Orleans” as well as one new-building Newcastlemax dry bulk vessel expected to be delivered to the Company during the second quarter of 2016, and one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel expected to be delivered to the Company during the third quarter of 2016, Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of the Company’s fleet, excluding the four vessels not yet delivered, is approximately 4.7 million dwt with a weighted average age of 7.53 years.

 

Source: Diana Shipping

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