Diana Shipping Receives Newcastlemax Bulk Carrier

Friday, May 18, 2012

On May 16 Diana Shipping Inc. (NYSE:DSX) took delivery of the newly-built m/v "Philadelphia", a Newcastlemax dry bulk carrier of 206,040 dwt that was contracted in April 2010. As previously announced, the m/v "Philadelphia" is chartered to EDF Trading Ltd., London, at a gross rate of $18,000 per day, minus a 5% commission paid to third parties, for a minimum forty-four (44) to a maximum fifty (50) month period. The charter commenced yesterday. This employment is anticipated to generate approximately $23.76 million of gross revenue for the minimum scheduled period of the charter. The Company also announced that through one of its wholly owned subsidiaries, it has completed the drawdown of $34.65 million fromits previously announced loan facility of $82.6 million with The Export-Import Bank of China ("China Eximbank") having a majority interest and DNB Bank ASA as agent. The purpose of this drawdown was to partially finance the acquisition cost of the m/v Philadelphia.
Including the newly-delivered m/v "Philadelphia", Diana Shipping Inc.'s fleet currently consists of 28 dry bulk carriers (17 Panamax, 1 Post-Panamax, 8 Capesize and 2 Newcastlemax), as well as two 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 3.2 million dwt with a weighted average age of 5.75 years. 

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

Finance

Otto Marine's Financial Health on the Mend

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.

Shipowners to Become Liable for Costs of Wreck Removal

Shipowner liability is on the horizon as the Nairobi International Convention on the Removal Wrecks will enter into force on 14 April 2015 following the deposit,

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

Container Ships

Latest Shipbuilding Contracts Include VLCC Order for Philippine Yard

In the latest Clarkson Hellas S&P Weekly Bulletin newbuilding orders are reported in Far East shipyards for a range of vessels as follows: Bulk carriers Clarkson

Port of LA March 2014 Container Volumes Surge

The Port of Los Angeles has released its March 2014 containerized cargo volume figures, showing that container imports surged 42 percent, from 231,397 TEUsin March 2013 to 327,

SC Ports Report Record Pier Container Volumes

Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,

 
 
Maritime Security Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.0961 sec (10 req/sec)