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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Gas Plant Fire Halts US Gulf Coast Platforms

At least two offshore oil platforms halted operations on Tuesday in the U.S. Gulf of Mexico after a fire at a natural gas processing plant in Mississippi shut a

Sevan Marine Divests Stake in KANFA Aragon

Sevan Marine ASA said it has disposed 50 percent of its stake in KANFA Aragon AS to Sembcorp Marine Ltd. for cash consideration of NOK 20 million, representing

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

Bulk Carrier Trends

Essberger Fleet Moves to Marlink’s Sealink VSAT Service

The Hamburg headquartered John T. Essberger (JTE) Group will migrate the primary communication systems of its entire fleet to Sealink, Marlink’s global maritime broadband VSAT service.

Baltic Index Rises for Fifth Consecutive Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments.

Diana Shipping Enters Contract with SwissMarine

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels,

News

Fundraiser Held for USS Gerald R. Ford Crew

Blackmer, a company in positive displacement and centrifugal pump and reciprocating compressor technologies, has a relationship with the U.S. Military that dates

Gas Plant Fire Halts US Gulf Coast Platforms

At least two offshore oil platforms halted operations on Tuesday in the U.S. Gulf of Mexico after a fire at a natural gas processing plant in Mississippi shut a

Meercat Workboats Scores a Hat-trick

The U.K.’s Meercat Workboats says it scored a hat-trick; the Hampshire-based boat builder announced it is moving premises, that Seawork was a huge success and that

Vessels

First MAN D2676 Workboat Engine Ready for Launch

Last December, MAN Engines introduced its latest generation in-line six-cylinder engines for workboats. Now the first MAN D2676 LE443 engine off the production

Essberger Fleet Moves to Marlink’s Sealink VSAT Service

The Hamburg headquartered John T. Essberger (JTE) Group will migrate the primary communication systems of its entire fleet to Sealink, Marlink’s global maritime broadband VSAT service.

Multraship’s New ASD Tugs Named in the Netherlands

Two Damen ASD 3212 tugs for towage and salvage specialist Multraship have been named on June 24 at Terneuzen, the Netherlands.   The Multratug 29 and Multratug 30,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Simulators Shipbuilding / Vessel Construction 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: 0.1185 sec (8 req/sec)