Diana Shipping announces direct continuation of two time charter agreements
Diana Shipping Inc. , a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis, for a period of minimum fifteen months to maximum eighteen months. The gross charter rate is US$6,500 per day minus a 5% commission paid to third parties. The new charter period is expected to commence on February 14, 2016.
The “G. P. Zafirakis” is a 179,492 dwt Capesize dry bulk vessel built in 2014.
Diana Shipping also announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Rio Tinto Shipping (Asia) Pte., Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$5,200 per day, minus a 5% commission paid to third parties, for a period of minimum eleven months to about fifteen months. The charter commenced on February 3, 2016.
The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.
In addition, Diana Shipping 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 Dione. The gross charter rate is US$4,350 per day, minus a 5% commission paid to third parties, for a period of about twelve months to maximum fifteen months.
The “Dione” is a 75,172 dwt Panamax dry bulk vessel built in 2001.
The employment extension of “G. P. Zafirakis” and the employments of “New York” and “Dione” are anticipated to generate approximately US$6.14 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax). The Company also expects to take delivery of three Panamax dry bulk vessels by the end of March 2016, one new-building Newcastlemax dry bulk vessel during the third quarter of 2016 as well as one new-building Newcastlemax dry bulk vessel and one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the six vessels not yet delivered, is approximately 5.0 million dwt with a weighted average age of 7.45 years.
About Diana Shipping
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. Diana Shipping’s 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.
