Diana Shipping Inks One New Charter and Two Extensions

  • Business & Finance

Athend-based dry bulk owner Diana Shipping has agreed a new time charter deal and two charter extensions for its ships.

The company has, through a separate wholly-owned subsidiary, entered into a time charter contract with Hong Kong’s DHL Project & Chartering Limited for one of its Capesize dry bulk vessels, New York.

The 177,773 dwt bulker was hired at a gross charter rate of USD 16,000 per day for a period of sixteen to nineteen months. The charter is expected to commence by mid-January, 2018.

New York, built in 2010, is currently chartered to Singaporean Koch Shipping Pte. Ltd., at a rate of USD 14,450 per day.

Additionally, Diana Shipping agreed to extend the present time charter contracts for its 2004-built Erato and the 2001-built Danae.

Erato will continue working for Phaethon International Company AG at a gross charter rate of USD 10,500 per day for a period of fourteen to seventeen months. The 74,444 dwt Panamax is currently earning USD 7,250 per day.

The new charter period is expected to commence on December 30, 2017.

The company’s Danae also saw its deal with Phaethon International Company AG extended for a period of thirteen to about sixteen months. Starting from December 22, the 75,106 dwt ship will earn USD 10,000 per day, up from the earlier gross charter rate of USD 7,750 per day.

Diana Shipping said that the employment of New York, as well as the employment extensions of Erato and Danae, are anticipated to generate around USD 15.99 million of gross revenue for the minimum scheduled period of the time charters.

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