Diana Shipping announces time charter contract with Koch

September 13 2021 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 Capesize dry bulk vessels, the m/v Houston.

The gross charter rate is US$27,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 15, 2022 up to maximum October 15, 2022. The charter commenced retroactively on August 30, 2021.

The m/v Houston was chartered, as previously announced, to C Transport Maritime Ltd., Bermuda, at a gross charter rate of US$6,250 per day for the first thirty (30) days of the charter period and US$12,400 per day for the balance of the time charter, in each case minus a 5% commission paid to third parties.

The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.

The employment of “Houston” is anticipated to generate approximately US$8.51 million of gross revenue for the minimum scheduled period of the time charter.