Athens, Greece - February 11, 2020
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with BHP Billiton Freight Singapore Pte. Ltd., for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The charter commenced on February 5, 2020.
The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.
This employment is anticipated to generate approximately US$6.09 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Calipso, and one Capesize dry bulk vessel, the m/v Norfolk, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Calipso and the m/v Norfolk, is approximately 5.2 million dwt with a weighted average age of 9.66 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’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.
Diana Shipping Inc. press release