Diana Shipping Announces Time Charter Contracts

Thursday, September 22, 2011

Diana Shipping Inc. (NYSE:DSX) entered into two time charter contracts with EDF Trading Limited, London, for its two Newcastlemax dry bulk carriers, the m/v Los Angeles and the m/v Philadelphia, which are currently under construction. Both charters will be at a gross rate of US$18,000 per day, minus a 5% commission paid to third parties, for a minimum 46 to a maximum 50 month period for the Los Angeles and a minimum 44 to a maximum 50 month period for the Philadelphia. As previously announced, the above mentioned vessels are Newcastlemax dry bulk carriers of approximately 206,000 dwt each that were contracted in April 2010. The charters are expected to commence upon delivery of the Los Angeles and the Philadelphia to the Company from the shipbuilding yard, which is expected to occur in February 2012 and in April 2012, respectively.
The time charter contracts of the two vessels are expected to generate approximately $48.6m of gross revenues for the minimum scheduled period of the charters. Separately, the company also announced that it has completed the drawdown of $15 million from a loan facility with Emporiki Bank of Greece S.A. through a wholly owned subsidiary. The purpose of this facility is to partly finance the acquisition cost of the m/v Arethusa which was delivered to the Company on July 7, 2011.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

OSI to Integrate Software for UK Royal Navy

OSI Maritime Systems (OSI) announced the signing of a contract to integrate its flagship software, ECPINS-W Sub, into the U.K. Royal Navy’s T45 Destroyer Integrated Bridge System (IBS).

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes, the 3DEXPERIENCE Company,

Canadian Icebreaker Refit Contracts Awarded

The Canadian Government informs it has awarded a $6.5 million contract to Babcock Canada Inc. for critical refit work for Canadian Coast Guard ship 'CCGS Louis S.

Bulk Carrier Trends

Court: Japan's Mitsui Paid to Release Ship

China Supreme Court says Mitsui pays about $29 mln; Ship released about 0030 GMT Thursday. Ship was seized over dispute dating back to 1930s. Advisor to plaintiffs says will likely demand more money.

CMM Takes Delivery of Damen PSV for Brazil

New supplier CMM Gravity to start on long-term contract with Petrobras. CMM has taken delivery of a Damen Platform Supply Vessel 3300. The 80-meter, 3,300t deadweight

China's Seizure of Japanese Ship has Pre-WWII Roots

It all began with a pre-World War II contract between China's then "ship king" and a Japanese company to lease two Chinese freighters. When the one-year lease was up in 1937,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0973 sec (10 req/sec)