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Diana announces Koch time charter for m/v Seattle

(Posted on 02/08/18)

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Seattle. The gross charter rate is US$24,000 per day, minus a 5% commission paid to third parties, for a period of minimum four (4) months to maximum six (6) months. The charter commenced earlier today. The m/v Seattle was chartered, as previously announced, at a gross charter rate of US$11,700 per day, minus a 5% commission paid to third parties.

The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011. This employment is anticipated to generate approximately US$2.88 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 8.94 years.

The company is a global provider of shipping transportation services through its ownership of dry bulk vessels. Vessels are employed primarily on medium to long-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.