Diana Shipping Announces Direct Continuation of Time Charter Contract for m/v Polymnia and a New Time Charter Contract for m/v Los Angeles
Diana Shipping Inc., 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 extended the time charter contract with CLdN Cobelfret SA, Luxembourg, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$10,000 per day for the first thirty (30) days of the charter period and US$15,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties, for a period until minimum April 1, 2024 up to maximum May 31, 2024. The new charter period commenced on January 14, 2023.
The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$17,700 per day, minus a 5% commission paid to third parties, for a period until minimum May 20, 2024 up to maximum August 5, 2024. The charter commenced on January 15, 2023.
The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.
The employment extension of “Polymnia” as well as the employment of “Los Angeles” are anticipated to generate approximately US$15.02 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 8 Ultramax). The Company also expects to take delivery of 1 Ultramax dry bulk vessel by the end of January of 2023. As of today, the combined carrying capacity of the Company’s fleet, excluding the 1 Ultramax dry bulk vessel not yet delivered, is approximately 4.9 million dwt with a weighted average age of 10.25 years.