Diana Enters Time Charter Contracts

Press Release
Monday, December 17, 2012

Diana Shipping Inc. (NYSE:DSX) has entered into time charter contracts for three of its vessels.


The Company has entered into a time charter contract with Clearlake Shipping Pte. Ltd., Singapore, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Norfolk. The gross charter rate is US$10,700 per day, minus a 4.5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-four (24) months. The charter is expected to commence at the beginning of January 2013.


Additionally, the Company has entered into a time charter contract with EDF Trading Limited, UK, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v Alcyon, at a gross charter rate of US$7,750 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-three (23) to maximum twenty-nine (29) months. The charter is expected to commence at the end of December 2012.


The Company also has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for another of its Panamax dry bulk carriers, the m/v Melite, at a gross charter rate of US$7,750 per day, minus a 5% commission paid to third parties, for a period of minimum eighteen (18) to maximum twenty-four (24) months. The charter is expected to commence at the beginning of January 2013.



These three employments are anticipated to generate a total of approximately US$15.3 million of gross revenue for the minimum scheduled period of the charters.



The Norfolk is a 164,218 dwt Capesize dry bulk vessel built in 2002, the Alcyon is a 75,247 dwt Panamax dry bulk carrier built in 2001 and the Melite is a 76,436 dwt Panamax dry bulk vessel built in 2004.



Diana Shipping Inc.'s fleet currently consists of 30 dry bulk carriers (17 Panamax, 3 Post-Panamax, 8 Capesize and 2 Newcastlemax), as well as 2 new-building Ice Class Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. As of today, the combined carrying capacity of our current fleet, excluding the two vessels not yet delivered, is approximately 3.4 million dwt with a weighted average age of 6.0 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.

 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Japan's MHI Bags Indian Oil's LNG Storage Tank Contract

Indian Oil Corp (IOC) has awarded a contract to build two football stadium-sized liquefied natural gas (LNG) storage tanks at its upcoming Ennore LNG import terminal

Gazprom, Gasunie Sign Framework Agreement - LNG

At a Meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Han Fennema, CEO and Chairman of the Executive Board of Gasunie a Framework

De Nora Acquires Severn Trent's Water Purification Business

De Nora announces the completion of the acquisition of the Water Purification group of Severn Trent Services. The new business line, called De Nora Water Technologies,

Offshore

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

Research Vessel Concept a First for Voith

The new fisheries research vessel of the Shanghai Ocean University will be a first for Voith in several respects.   It is the first fisheries research vessel

Ocean Safety’s New Liferaft Facility Opens

Ocean Safety, a specialist in the worldwide supply, distribution, service and hire of marine safety equipment, has opened a new liferaft hire division.   Ocean

News

Tunisia Reassures Yachters Following Terror Attack

A week after a terrorist attack in Tunisia, local superyacht businesses are reassuring yachters that security has been increased at Tunisian ports despite numerous cancellations.

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

Djibouti Training Center Build on Pace

The construction of the Djibouti Regional Training Centre (DRTC) in Doraleh, Djibouti is moving forward in earnest, with a view to completion by the end of September 2015,

Vessels

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

Wärtsilä Propulsion for New Fishing Vessel

A new fishing vessel being built by Simek AS in Norway on behalf of the U.K. operator Antares (Whalsay) Fishing Company Ltd, will feature an integrated Wärtsilä

CMA CGM's OPDR Acquisition Approved by EU

The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R.

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.1629 sec (6 req/sec)