Diana Shipping Adds Post-Panamax Bulker

Athens-based dry bulk specialist Diana Shipping has taken delivery of M/V Phaidra, a 2013-built Post-Panamax vessel previously known as Soya May, from the US-based Foremost Maritime Corp. 

In April 2017, Diana entered into an agreement to buy the 87,146 dwt ship for USD 20.1 million in an en block transaction which included one more Foremost’s Post-Panamax bulker, according to data provided by VesselsValue. Also in April, the company purchased a Kamsarmax bulker from Thenamaris.

Subsequently, Diana’s board of directors approved the acquisition of the three vessels.

Furthermore, the company informed it has entered into a time charter contract with Singapore’s Koch Shipping for one of its Capesize dry bulk vessels, M/V Semirio. The 174,261 dwt Semirio was built in 2007.

The gross charter rate is USD 14,150 per day for a period of minimum twelve to maximum sixteen months. The charter is expected to commence on May 20, 2017.

Additionally, the company has agreed to extend the present time charter contract with Narina Maritime for one of its Panamax dry bulk vessels, the 2006-built M/V Coronis, for a period of minimum eleven to maximum fourteen months.

The gross charter rate for the 74,381 dwt ship is USD 9,000 per day and the new charter period is expected to commence on May 17, 2017.

As disclosed, the employment of Semirio as well as the employment extension of Coronis are anticipated to generate approximately USD 8.06 million of gross revenue for the minimum scheduled period of the time charters.

Including the newly delivered Phaidra, Diana’s fleet currently comprises 49 dry bulk vessels. The company also expects to take delivery of one Post-Panamax dry bulk vessel by the end of May 2017 as well as one Kamsarmax ship by the end of May 2017.

As of May 15, the combined carrying capacity of the company’s fleet, excluding the two vessels not yet delivered, is around 5.75 million dwt with a weighted average age of 7.9 years.