Diana Shipping announces time charter contract with Koch

June 21 2018 Print This Article

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, 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 Newcastlemax dry bulk vessels, the m/v Philadelphia.

The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period of about twenty months to maximum twenty-three months. The charter commenced on June 18, 2018. The m/v Philadelphia was chartered, as previously announced, at a gross charter rate of US$15,500 per day, minus a 5% commission paid to third parties.

The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$11.7 million of gross revenue for the minimum scheduled period of the time charter.