Diana Shipping Announces Time Charter Contracts for mv Electra
Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Refined Success Limited, for one of its Post-Panamax dry bulk vessels, the m/v Electra.
The gross charter rate is US$17,500 per day, minus a 5% commission paid to third parties, for a period until a minimum of April 1, 2023, up to a maximum of May 30, 2023. The charter commenced on July 2, 2022. The m/v Electra was chartered to Raffles Shipping International Pte. Ltd., at a gross charter rate of US$16,500 per day, minus a 5% commission paid to third parties.
The “Electra” is an 87,150 dwt Post-Panamax dry bulk vessel built in 2013.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$23,000 per day, minus a 5% commission paid to third parties, for a period until a minimum of June 10, 2023, up to a maximum of August 25, 2023.
The charter commenced on July 2, 2022. The m/v New York was chartered, as previously announced, to EGPN Bulk Carrier Co., Limited, Hong Kong, at a gross charter rate of US$14,000 per day, minus a 5% commission paid to third parties.
The “New York” is a 177,773 dwt Capesize dry bulk vessel built-in 2010.
The employments of “Electra” and “New York” are anticipated to generate approximately US$12.48 million of gross revenue for the minimum scheduled period of the time charters.
Upon completion of the previously announced sale of one Capesize dry bulk vessel, the m/v Baltimore, Diana Shipping Inc.’s owned and the bareboat chartered-in fleet will consist of 34 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax).
As of today, the combined carrying capacity of our fleet, including the m/v Baltimore, is approximately 4.5 million dwt with a weighted average age of 10.43 years.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain, and other materials along worldwide shipping routes.
